MANU/SC/0232/1968

IN THE SUPREME COURT OF INDIA

Decided On: 02.08.1968

Appellants: J.K. woolen Manufacturers
Vs.
Respondent: Commissioner of Income-tax, U.P.

JUDGMENT

Ramaswami, J.

1. The appellant (hereinafter called "the assessee") carried on the business of manufacture and sale of blankets and other woolen cloth. For the assessment year 1948-49 the assessee claimed a deduction of Rs. 75,465 as commission paid to the general manager, Shri J. P. Vaish. According to the terms of appointment Shri J. P. Vaish was to draw a fixed salary of Rs. 1,000 p.m. commission of 12 1/2% on the net profits of the firm payab

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