TaxTMI 
TaxTMI 
1971 (4) TMI 30
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.... the opinion of this court at the instance of the Commissioner of Income-tax : " Whether, on the facts and circumstances of the case, the Tribunal was correct in holding that the salary payment of Rs. 12,000 to Shri P. N. Suri was an expenditure incurred by the assessee wholly and exclusively for the purposes of earning share of profits and remuneration from M/s. Standard & Co. and as such was an....
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.... remuneration to be paid out of his remuneration. Shri Raizada appointed one P.N. Suri to work as the assistant managing director and the whole of the remuneration which was to be received by him was paid to Shri P.N. Suri. The assessee contended that the sum of Rs. 12,000 paid to Shri P. N. Suri should not be included in its income. In the alternative, it was claimed that in case the sum of Rs. ....
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....and consequently clubbing it with the share income of Shri K.L. Raizada. It further held that the assessee was entitled to claim the deduction in respect of the amount of Rs. 12,000 paid to Shri P. N. Suri. In the result, it allowed the appeal and directed the deletion of a sum of Rs. 12,000 from the total income of the assessee. The Commissioner of Income-tax then made an application under secti....