Supreme Court of India
The Aggarwal Chamber of Commerce, Ltd. v. M/s. Ganpat Rai Hira Lal
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What the Court ordered
In the result this appeal is allowed and the judg ment and order of the Division Bench of the Pepsu High Court set aside and the order of the learned (1) (1922) 1A.C.417. 1957 The Aggarwal Chamber of Commerce, Ltd •. v.
Judgment, page 12
From the headnote
Income-tax-Assessment of agent in respect of profits held fO'r non-resident principal-Agent's right to claim deduction for payment made-Ultimate liability of princi pal to income-tu on basis of his world income, if a relevant consideraticn--Indian Income-tax Act, (XI of 1922), ss. 40 (2)' 42 (1). . The appellant company and the respondent firm were carrying on business in the erstwhile Patiala State, and were non-residents in British India . The appellant, ·acting as commission agent for the respondent, entered into several forward transactions with a Hapur firm of commis .sion agents . The
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