Supreme Court · 1957 INSC 54 · Decided 22 May 1957
J. K. Trust, Bombay v. The Commissioner of INCOME-TAX/EXCESS Profits Tax, Bombay
- Court
- Supreme Court of India
- Citation
- 1957 INSC 54 · [1958] 1 S.C.R. 65
- Case number
- CIVIL APPEAL No. 246/1954
- Decided
- 22 May 1957
- Bench
- NATWARLAL HARILAL BHAGWATI, T.L. VENKATARAMA AIYYAR, J.L. KAPUR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 4(3)(i), 66(1)
Headnote
COURT REPORTS J. K. TRUST, BOMBAY v. 65 THE COMMISSIONER OF INCOME-TAX/EXCESS PROFITS TAX, BOMBAY (BHAGWATI, VENKATARAMA AIYAR and J. L. KAPUR JJ.) Income Tax-Trust-Exemption from taxation-Trustees con­ ducting business of Managing Agency for the Trust-Business, whether on various charities specified therein provided for the acquisition of the business of managing agency on behalf of the trust and with the help of the trust fund. The trustees of the said trust (appellant) became the managing agents of a public company. The agreement for the agency provided,
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