https://www.taxtmi.com/caselaws?id=38744 Where a managing agency commission is linked to annual net profits and the principal's requisition compensation receipts are provisional and later adjusted, the commission for the earlier accounting periods is correspondingly recalculated on the finally ascertained amounts, because the right to additional commission accrues in each period and later quantification only crystallises that right. Where an accounting year ends after the chargeable accounting period under the Excess Profits Tax Act, the profits for the whole accounting year must be determined and then apportioned for the broken period under the statutory computation rule, so commission falling partly outside the chargeable period remains includible to the extent attributable to that period. en-us Fri, 25 Jun 1976 00:00:00 +0530 Thu, 08 Apr 2010 17:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38744 Where a managing agency commission is linked to annual net profits and the principal's requisition compensation receipts are provisional and later adjusted, the commission for the earlier accounting periods is correspondingly recalculated on the finally ascertained amounts, because the right to additional commission accrues in each period and later quantification only crystallises that right. Where an accounting year ends after the chargeable accounting period under the Excess Profits Tax Act, the profits for the whole accounting year must be determined and then apportioned for the broken period under the statutory computation rule, so commission falling partly outside the chargeable period remains includible to the extent attributable to that period. Case-Laws Income Tax Fri, 25 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38744