https://www.taxtmi.com/caselaws?id=192447 Profits from a profession are excluded from excess profits tax where they depend wholly or mainly on the personal qualifications of the persons carrying it on. On the facts, the Tribunal could not rely on a broad generalisation that auctioneering in India required no special qualification; it had to assess the particular circumstances, including the firm's experience, the partners' skill and efficiency, the attraction of government work, and the firm's comparative success. The court held that auctioneering itself involved skill, experience and judgment in obtaining business and sales, so the assessee's income depended mainly on the partners' personal qualifications and the issue was answered in its favour. en-us Tue, 26 Aug 1952 00:00:00 +0530 Thu, 01 Jun 2017 15:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192447 Profits from a profession are excluded from excess profits tax where they depend wholly or mainly on the personal qualifications of the persons carrying it on. On the facts, the Tribunal could not rely on a broad generalisation that auctioneering in India required no special qualification; it had to assess the particular circumstances, including the firm's experience, the partners' skill and efficiency, the attraction of government work, and the firm's comparative success. The court held that auctioneering itself involved skill, experience and judgment in obtaining business and sales, so the assessee's income depended mainly on the partners' personal qualifications and the issue was answered in its favour. Case-Laws Income Tax Tue, 26 Aug 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192447