https://www.taxtmi.com/caselaws?id=168767 Managing agency commission is taxable only to the extent the assessee became entitled under the operative arrangement; book entries and a notional amount under an earlier contract are not conclusive. Where the parties mutually reduced the remuneration before the liability crystallised, the higher figure cannot be treated as accrued income of the year. The real commission payable, not the originally computable amount, determines taxability, so the disputed sums were not income of the assessee for the relevant previous year. en-us Wed, 01 Oct 1958 00:00:00 +0530 Wed, 25 Mar 2015 18:38:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168767 Managing agency commission is taxable only to the extent the assessee became entitled under the operative arrangement; book entries and a notional amount under an earlier contract are not conclusive. Where the parties mutually reduced the remuneration before the liability crystallised, the higher figure cannot be treated as accrued income of the year. The real commission payable, not the originally computable amount, determines taxability, so the disputed sums were not income of the assessee for the relevant previous year. Case-Laws Income Tax Wed, 01 Oct 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168767