https://www.taxtmi.com/caselaws?id=292906 Where managers conduct a proprietor's stevedoring and dubashing business in the proprietor's name and for his benefit, the business remains that of the proprietor for income-tax purposes, so the full profits are assessable as business income in his hands. A contractual amount retained by the managers out of those profits is not deductible merely because it is described as bonus or commission; if it is payable only after profits arise, it is treated as an application or division of profits, not expenditure incurred solely to earn them. The claimed deduction therefore fails under the business allowance provisions. en-us Sun, 29 Mar 1936 00:00:00 +0530 Tue, 12 Jan 2021 17:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292906 Where managers conduct a proprietor's stevedoring and dubashing business in the proprietor's name and for his benefit, the business remains that of the proprietor for income-tax purposes, so the full profits are assessable as business income in his hands. A contractual amount retained by the managers out of those profits is not deductible merely because it is described as bonus or commission; if it is payable only after profits arise, it is treated as an application or division of profits, not expenditure incurred solely to earn them. The claimed deduction therefore fails under the business allowance provisions. Case-Laws Income Tax Sun, 29 Mar 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292906