Supreme Court · 1953 INSC 65 · Decided 14 October 1953
Commissioner of Income-Tax, Madras v. K. R. M. T. T. Thiagaraja Chetty & CO.
- Court
- Supreme Court of India
- Citation
- 1953 INSC 65 · [1954] 1 S.C.R. 258
- Case number
- CIVIL APPEAL No. 131/1952
- Decided
- 14 October 1953
- Bench
- M. PATANJALI SASTRI, SUDHI RANJAN DAS, VIVIAN BOSE, GHULAM HASAN, NATWARLAL HARILAL BHAGWATI (5-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
258 SUPREME COURT REPORTS [1954] COMMISSIONER OF INCOME-TAX, MADRAS v. K. R. M. T. T. THIAGARAJA CHETTY & CO. [PATANJALrSASTRI C.J., S. R. DAs, VIVIAN BosE, GHULAM HASAN and BHAGWATI JJ.] India,n focome-tax Act (XI of 1922), ss. 4 (1) (b), 13-Cominis­ sion agency-Accou,nts kept on. of profits, ~ohether Cj)ndition prececlent to accrnal. \Vhere, under the terms of a managing agency agree1nent, the assesses firm who· wera the 1nanaging agents of a company \Vere entitled to a certain percentage of the profits as their commission and in the
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