Supreme Court · 1962 INSC 370 · Decided 11 December 1962
P. H. Divecha and Another v. Commissioner of Income-Tax, Bombay I
- Court
- Supreme Court of India
- Citation
- 1962 INSC 370 · [1963] SUPP. 2 S.C.R. 949
- Case number
- CIVIL APPEAL No. 332/1961
- Decided
- 11 December 1962
- Bench
- S.K. DAS, J.L. KAPUR, A.K. SARKAR, M. HIDAYATULLAH, RAGHUBAR DAYAL (5-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 4(3)(VII)
Headnote
2 S.C.R. SUPREME COURT REPORTS P. H. DIVECHA AND ANOTHER v. COMMISSIONER OF INCOME-TAX, BOMBAY I 949 (S. K. DAS, J. L. KAPUR, A. ·K. SARKAR, M. HIDAYATULLAH A.ND RAGHUBAR DAYAL, jj.) Income Tax-Firm of three partnera-Agrument with a company-Create& monopoly to aell and deliver to pay Ra. 40,000/- per annum to each partner during 3 year<-A .. •••· ment year-Each partner reeeivea Ra. 10,000/- -Whether trading aaset or Capital Mseu-Gompensation or ex gratia paymtnl. The two appellants along with another were carrying on business in Electrical goods
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