Supreme Court of India
The Commissioner of Income-tax, Bombay v. Chandulal Keshavlal & Co., Petlad
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5 Supreme Court benches have cited this judgment.
From the headnote
Income-tax-Managing Agent relinquishing part of commission due from managed company-Whether amount relinquished is deduc tible as expenditure expended wholly and exclusively for purpose of his business-Finding, if one of fact-Indian Income-tax Act, I922 (XI of I922), s. ro(2) (xv). The assessee was the Managing Agent of a company and for the accounting year 1950 its total commission was Rs. 3,09,n4. At the oral request· of the Directors of the Company made during the accounting year.the assessee agreed to accept Rs. l,00,000 only as its commission and relinquished the balance. The Income-tax
Authorities it was built on
Where later benches applied it
- 2006 S.A. Builders Ltd. v. Commissioner of Income Tax (appeals) Chandigarh and Anr.
- 1997 Madras Industrial Investment Corporation Ltd. v. Commissioner of Income Tax, Tamil,nadu I, Madras
- 1973 Commissioner of Income-tax West Bengal-ii, Calcutta v. M/s Birla Gwalior (pvt.) Ltd.
- 1961 Dharamvir Dhir. v. The Commissioner of Income-tax, Bihar & Orissa
- 1960 The Commissioner Oe' Income-tax, West Bengal v. Royal Calcutta Turf Club
Of those, 5 mentioned
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