https://www.taxtmi.com/caselaws?id=290021 The High Court ruled in favor of the assessee, determining that the remuneration received as the Managing Agent of a company should be classified as salary rather than income from business. The Court emphasized that the classification of income depends on the specific facts of each case. Despite the designation as Managing Agent, the Court found that the duties and powers conferred upon the assessee resembled those of a servant, leading to the decision that the remuneration should be treated as salary. The assessee was awarded costs amounting to Rs. 300. en-us Fri, 08 May 1953 00:00:00 +0530 Fri, 04 Sep 2020 13:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290021 The High Court ruled in favor of the assessee, determining that the remuneration received as the Managing Agent of a company should be classified as salary rather than income from business. The Court emphasized that the classification of income depends on the specific facts of each case. Despite the designation as Managing Agent, the Court found that the duties and powers conferred upon the assessee resembled those of a servant, leading to the decision that the remuneration should be treated as salary. The assessee was awarded costs amounting to Rs. 300. Case-Laws Income Tax Fri, 08 May 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290021