https://www.taxtmi.com/caselaws?id=168795 Income derived by a managing agent or sole agent depends on the real nature of the relationship, not the label attached to it. Where the firm was formed to float the company, secure its managing agency, and continue that work as a business activity, and the documents showed no contract of service or master-servant relationship, the receipts were treated as business income. The same approach applied to the sole agency activity. The distinction between the Partnership Act and the Income-tax Act did not alter the character of the receipts, because the activity was still in the nature of business or an adventure in the nature of business. en-us Tue, 04 Mar 1952 00:00:00 +0530 Thu, 26 Mar 2015 17:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168795 Income derived by a managing agent or sole agent depends on the real nature of the relationship, not the label attached to it. Where the firm was formed to float the company, secure its managing agency, and continue that work as a business activity, and the documents showed no contract of service or master-servant relationship, the receipts were treated as business income. The same approach applied to the sole agency activity. The distinction between the Partnership Act and the Income-tax Act did not alter the character of the receipts, because the activity was still in the nature of business or an adventure in the nature of business. Case-Laws Income Tax Tue, 04 Mar 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168795