https://www.taxtmi.com/caselaws?id=184446 Income is attributable to the person legally entitled to receive it, even where managing agency commission is paid directly to that person's nominee at the assessee's direction. On that basis, the commission remained income of the assessee firm. The corresponding payment was also treated as expenditure actually incurred for business purposes, because the nominee performed the managing agency work on the assessee's behalf and the direct payment reflected an implied business arrangement. The absence of a formal written agreement did not defeat deductibility under section 10(2)(xv). en-us Tue, 07 Sep 1965 00:00:00 +0530 Fri, 08 Jul 2016 17:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184446 Income is attributable to the person legally entitled to receive it, even where managing agency commission is paid directly to that person's nominee at the assessee's direction. On that basis, the commission remained income of the assessee firm. The corresponding payment was also treated as expenditure actually incurred for business purposes, because the nominee performed the managing agency work on the assessee's behalf and the direct payment reflected an implied business arrangement. The absence of a formal written agreement did not defeat deductibility under section 10(2)(xv). Case-Laws Income Tax Tue, 07 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184446