https://www.taxtmi.com/caselaws?id=277042 The treasurer's remuneration was treated as business income because the engagement showed an independent contractor relationship rather than a master-servant one: he was not required to render personal service under the bank's control, but had substantial authority over staff, bore financial responsibility for excess salaries, and indemnified the bank against loss. The emoluments were also assessed in the hands of the Hindu undivided family because the appointment and earning of the income were linked to family connection and the joint family assets furnished as security were exposed to risk for earning that income. The result was that the income was taxable as business income in the hands of the Hindu undivided family. en-us Thu, 12 May 1955 00:00:00 +0530 Thu, 22 Nov 2018 17:13:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277042 The treasurer's remuneration was treated as business income because the engagement showed an independent contractor relationship rather than a master-servant one: he was not required to render personal service under the bank's control, but had substantial authority over staff, bore financial responsibility for excess salaries, and indemnified the bank against loss. The emoluments were also assessed in the hands of the Hindu undivided family because the appointment and earning of the income were linked to family connection and the joint family assets furnished as security were exposed to risk for earning that income. The result was that the income was taxable as business income in the hands of the Hindu undivided family. Case-Laws Income Tax Thu, 12 May 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277042