https://www.taxtmi.com/caselaws?id=204625 The High Court upheld the classification of commission income as business income, allowed the set off against business losses, and interpreted the memorandum of association to support business activities. The Tribunal's decision, affirming the CIT(A)'s findings, was based on the agreement between the entities, the nature of the commission income, and the conduct of the parties involved. The Revenue's argument against the set off was dismissed, as the commission income was deemed business income in accordance with the memorandum's empowering clause. en-us Mon, 11 Jul 2011 00:00:00 +0530 Fri, 04 Nov 2011 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204625 The High Court upheld the classification of commission income as business income, allowed the set off against business losses, and interpreted the memorandum of association to support business activities. The Tribunal's decision, affirming the CIT(A)'s findings, was based on the agreement between the entities, the nature of the commission income, and the conduct of the parties involved. The Revenue's argument against the set off was dismissed, as the commission income was deemed business income in accordance with the memorandum's empowering clause. Case-Laws Income Tax Mon, 11 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204625