1953 (10) TMI 8

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..... 3 - Upon the first question both the learned Judges agreed that the sum of Rs. 2,20,702 was rightly assessed to tax, in that there was nothing to prevent the firm from drawing the amount from the company which stood credited in their favor It is contended that this commission accrued in what are now called "B States", but it was not brought into British India and hence it was not income which had .....

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..... unt. It is, however, not disputed that the amount was credited to the firm in the accounts. The Income-tax Officer treated the amount as income accrued and received by the firm and held it taxable. In appeal before the Appellate Assistant Commissioner it was contended that this sum included Rs. 81,023 which represented the commission accruing to the firm in the Indian States where the company had .....

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..... was entitled to exemption of the sum of Rs. 81,023. Upon the first question both the learned Judges agreed that the sum of Rs. 2,20,702 was rightly assessed to tax, in that there was nothing to prevent the firm from drawing the amount from the company which stood credited in their favour. Nothing has been urged in the course of arguments upon the first question. The argument before us is confined .....

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