MANU/SC/0227/1968

IN THE SUPREME COURT OF INDIA

Decided On: 28.08.1968

Appellants: Ishwar Lal and R.B. Suraj Narain (represented by Bishan Narain and Anr.)
Vs.
Respondent: Commissioner of Income-tax, Delhi, Rajasthan & Madhya Pradesh

JUDGMENT

Ramaswami, J.

1. The appellant, Shri Ishwar Lal, hereinafter referred to as "the assessee", was one of the Directors of M/s. J. N. Singh & Co. Ltd., hereinafter referred to as "the company". The assessee received for the financial year 1948-49 by way of director's fee a sum of Rs. 1,200 in addition to an annual remuneration of Rs. 10,000. This remuneration was paid to the assessee in pursuance of a resolution passed at a meeting of the board of directors

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