https://www.taxtmi.com/caselaws?id=103453 The Tribunal held that all items of receipts from eligible business are entitled to deduction under section 32AB, except for specific exclusions. Rent from hiring machinery and generator hire charges were deemed ineligible for deduction. Profit from eligible business should be computed in accordance with Parts II and III of Schedule VI of the Companies Act, ensuring uniformity and aligning with commercial profit principles. This decision harmonizes with previous rulings and provides clarity on the computation method for deductions under section 32AB. en-us Wed, 05 Sep 2001 00:00:00 +0530 Thu, 31 Aug 2017 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103453 The Tribunal held that all items of receipts from eligible business are entitled to deduction under section 32AB, except for specific exclusions. Rent from hiring machinery and generator hire charges were deemed ineligible for deduction. Profit from eligible business should be computed in accordance with Parts II and III of Schedule VI of the Companies Act, ensuring uniformity and aligning with commercial profit principles. This decision harmonizes with previous rulings and provides clarity on the computation method for deductions under section 32AB. Case-Laws Income Tax Wed, 05 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103453