https://www.taxtmi.com/caselaws?id=7418 A minimum commission of Rs. 25,000 under a managing agency agreement was treated as accrued income because the clause guaranteed that amount where profits were insufficient, so the right to receive it arose in the relevant year. The alternative deduction claim failed because the Tribunal found no actual waiver or conscious surrender of the amount; without such surrender, deduction on grounds of commercial expediency was unavailable. Both referred questions were answered against the assessee. en-us Fri, 11 Oct 1968 00:00:00 +0530 Thu, 19 Feb 2009 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7418 A minimum commission of Rs. 25,000 under a managing agency agreement was treated as accrued income because the clause guaranteed that amount where profits were insufficient, so the right to receive it arose in the relevant year. The alternative deduction claim failed because the Tribunal found no actual waiver or conscious surrender of the amount; without such surrender, deduction on grounds of commercial expediency was unavailable. Both referred questions were answered against the assessee. Case-Laws Income Tax Fri, 11 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7418