https://www.taxtmi.com/caselaws?id=49572 The Supreme Court held that the taxable income for managing agents was the reduced commission amount as per modified agreements, emphasizing their entitlement superseding original terms. The Court rejected arguments based on interim entries or accounting methods, stating that the right to receive commission accrued at year-end based on modified agreements. Consequently, the Court affirmed the reduced commission as taxable income for managing agents in both cases, dismissing appeals challenging this determination. en-us Fri, 19 Feb 1960 00:00:00 +0530 Wed, 03 Sep 2014 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49572 The Supreme Court held that the taxable income for managing agents was the reduced commission amount as per modified agreements, emphasizing their entitlement superseding original terms. The Court rejected arguments based on interim entries or accounting methods, stating that the right to receive commission accrued at year-end based on modified agreements. Consequently, the Court affirmed the reduced commission as taxable income for managing agents in both cases, dismissing appeals challenging this determination. Case-Laws Income Tax Fri, 19 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49572