Supreme Court · 2000 INSC 530 · Decided 15 November 2000
Commissioner of Income Tax, Gujarat-I v. Navnit Lal Sa Kar Lal ETC.
- Court
- Supreme Court of India
- Citation
- 2000 INSC 530 · [2000] SUPP. 4 S.C.R. 652
- Case number
- CIVIL APPEAL No. 7723/1997
- Decided
- 15 November 2000
- Bench
- S.P. BHARUCHA, D.P. MOHAPATRA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 17
Headnote
Income Tax Act, 1961-Section 17-Commission payable to employee- Assessee expended in purchase of Deferred Annuity Policy from life Insurance c Corporation by the employer for the benefit of assessee-Whether includib/e in the hands of assessee as income chargeable under the head Salaries- Held, Under the terms of agreement, they are entitled to remuneration. Later, a D resolution was passed by the Board of Directors of the company to expend the commission payable to the assessees in purchase of Deferred Annuity Policies from Life Insurance Corporation on the life of the
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