https://www.taxtmi.com/caselaws?id=6219 Arrangements for compensation on breach of managing agency and selling agency agreements were found, on the admitted facts, to be sham and colourable transactions designed to divert funds to persons controlling the assessee without income-tax liability. The claimed compensation was therefore treated as arising from a non-genuine device, and no referable question of law arose under section 66(1). The refusal to call for a statement of the case was upheld, and the appeal was dismissed. en-us Wed, 29 Apr 1970 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6219 Arrangements for compensation on breach of managing agency and selling agency agreements were found, on the admitted facts, to be sham and colourable transactions designed to divert funds to persons controlling the assessee without income-tax liability. The claimed compensation was therefore treated as arising from a non-genuine device, and no referable question of law arose under section 66(1). The refusal to call for a statement of the case was upheld, and the appeal was dismissed. Case-Laws Income Tax Wed, 29 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6219