Supreme Court · 1972 INSC 198 · Decided 29 August 1972
M. K. Brothers (P) LTD . v. C.I.T. Kanpur
- Court
- Supreme Court of India
- Citation
- 1972 INSC 198 · [1973] 1 S.C.R. 1077
- Case number
- CIVIL APPEAL No. 342/1969
- Decided
- 29 August 1972
- Bench
- K.S. HEGDE, P. JAGANMOHAN REDDY, HANS RAJ KHANNA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- IPC; Constitution Article 133; Income Tax Act
Headnote
c D E J' G H lncom11-tax Act (11 of 1922)-Amount due to company from Its sole selling agerl.t-Llability undertaken by appellant to pay amount in consi­ deraio11 of its appointment as sole selling agent-If Capital or revenue expenditure. in 1955, a large amount was due to a corporation from a. of an agreement between the appellant, the corporati>Jn, and the firm, the appellant undertook to dis­ charge the liability of the firm in consideration of its being appointed the S<,lle selling agent in place of the firm. In 1956, an indenture was execut· ed by the
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