https://www.taxtmi.com/caselaws?id=78016 The High Court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal in a case concerning the assessment year 1996-97. It ruled that income from commission and service charges should be considered business income, even for a manufacturing company. The assessee was entitled to higher depreciation due to fluctuation in foreign exchange rates, as per section 43A of the Income-tax Act. The Court dismissed the Revenue's appeal, affirming the lower authorities' findings and clarifying the treatment of income sources and depreciation adjustments. en-us Fri, 21 Nov 2008 00:00:00 +0530 Tue, 26 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78016 The High Court upheld the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal in a case concerning the assessment year 1996-97. It ruled that income from commission and service charges should be considered business income, even for a manufacturing company. The assessee was entitled to higher depreciation due to fluctuation in foreign exchange rates, as per section 43A of the Income-tax Act. The Court dismissed the Revenue's appeal, affirming the lower authorities' findings and clarifying the treatment of income sources and depreciation adjustments. Case-Laws Income Tax Fri, 21 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78016