https://www.taxtmi.com/caselaws?id=276988 The High Court held that the managing agency commission accrued to the assessees at the end of the financial year, and they were liable to pay tax on the entire amount of Rs. 2,88,392. The Court rejected the argument that the commission accrued only when sales were made and emphasized that the debt was created at the end of the financial year. The Court also highlighted that the Taxing Department should not assess two parties for the same income and should determine whether to collect the tax from the original managing agents or the assessees. The assessees were directed to pay the costs of the case. en-us Mon, 11 Feb 1957 00:00:00 +0530 Wed, 21 Nov 2018 18:06:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276988 The High Court held that the managing agency commission accrued to the assessees at the end of the financial year, and they were liable to pay tax on the entire amount of Rs. 2,88,392. The Court rejected the argument that the commission accrued only when sales were made and emphasized that the debt was created at the end of the financial year. The Court also highlighted that the Taxing Department should not assess two parties for the same income and should determine whether to collect the tax from the original managing agents or the assessees. The assessees were directed to pay the costs of the case. Case-Laws Income Tax Mon, 11 Feb 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276988