Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
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.
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