https://www.taxtmi.com/caselaws?id=23018 The High Court held that the share of profits accrued to the deceased at the time of his death, making it taxable income despite computation and payment post-death. The court interpreted the employment contract, determining the share of profits as part of salary, accruing monthly. It concluded that the salary income, including profits, accrued to the deceased monthly, distinguishing it from managing agency agreements. The court ruled in favor of the Revenue, clarifying the taxability of profits as income and affirming the accrual of salary to the deceased. en-us Sat, 07 Jul 1990 00:00:00 +0530 Wed, 16 Dec 2009 11:09:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23018 The High Court held that the share of profits accrued to the deceased at the time of his death, making it taxable income despite computation and payment post-death. The court interpreted the employment contract, determining the share of profits as part of salary, accruing monthly. It concluded that the salary income, including profits, accrued to the deceased monthly, distinguishing it from managing agency agreements. The court ruled in favor of the Revenue, clarifying the taxability of profits as income and affirming the accrual of salary to the deceased. Case-Laws Income Tax Sat, 07 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23018