https://www.taxtmi.com/caselaws?id=29325 Compensation received by a managing agent on termination of a managing agency agreement falls within section 10(5A)(a) of the Indian Income-tax Act, 1922 when the termination and receipt of compensation are in fact established. The prior finding that the termination was not bona fide did not negate the existence of termination or the character of the payment as compensation connected with that termination. As the agreement was terminated, arbitration fixed compensation, and the amounts were actually received, the receipts were held taxable under the statutory provision. en-us Mon, 31 Aug 1981 00:00:00 +0530 Fri, 12 Mar 2010 12:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29325 Compensation received by a managing agent on termination of a managing agency agreement falls within section 10(5A)(a) of the Indian Income-tax Act, 1922 when the termination and receipt of compensation are in fact established. The prior finding that the termination was not bona fide did not negate the existence of termination or the character of the payment as compensation connected with that termination. As the agreement was terminated, arbitration fixed compensation, and the amounts were actually received, the receipts were held taxable under the statutory provision. Case-Laws Income Tax Mon, 31 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29325