Supreme Court Dismisses Revenue’s Appeal, Holding Compensation for Partial Termination of Agency is Capital Receipt. Termination of Agency for Territory Outside Hyderabad State Results in Sterilisation of Capital Asset, Not Taxable as Business Income Under Indian Income-tax Act, 1922.
20 Mar 1959The dispute arose from the income tax assessment of Messrs. Vazir Sultan & Sons, a registered firm, for the assessment year 1951-52. The firm was appo...
