https://www.taxtmi.com/caselaws?id=49286 Remuneration paid to a bank treasurer was held not to be salary because the bank did not retain the direct control over the manner of performance characteristic of a master-servant relationship; the arrangement was for service, not one of service, and the income was assessable as income from a vocation under section 10. On that footing, the loss incurred in the same vocation was eligible to be carried forward and set off against later profits under section 24(2), and an earlier refusal to allow carry forward did not bind the assessee in the subsequent assessment. en-us Fri, 05 Nov 1965 00:00:00 +0530 Sat, 21 Jan 2017 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49286 Remuneration paid to a bank treasurer was held not to be salary because the bank did not retain the direct control over the manner of performance characteristic of a master-servant relationship; the arrangement was for service, not one of service, and the income was assessable as income from a vocation under section 10. On that footing, the loss incurred in the same vocation was eligible to be carried forward and set off against later profits under section 24(2), and an earlier refusal to allow carry forward did not bind the assessee in the subsequent assessment. Case-Laws Income Tax Fri, 05 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49286