Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses a wide range of activities beyond manufacturing or production. The inclusion of rental income within this definition is justified. - The court emphasizes that eligible business includes all income except that specifically excluded. Rental income, being part of the appellant's business income, is thus eligible for deduction under Section 32AB. - Consequently, the court rules in favor of the appellant, stating that the rental income assessed under the head "Income from house property" qualifies for deduction under Section 32AB of the Act.
Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses a wide range of activities beyond manufacturing or production. The inclusion of rental income within this definition is justified. - The court emphasizes that eligible business includes all income except that specifically excluded. Rental income, being part of the appellant's business income, is thus eligible for deduction under Section 32AB. - Consequently, the court rules in favor of the appellant, stating that the rental income assessed under the head "Income from house property" qualifies for deduction under Section 32AB of the Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
