https://www.taxtmi.com/caselaws?id=209409 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income-tax (Appeals) decision, determining that the income received by the assessee as commission should be treated as business income. This classification enabled the assessee to set off its carried forward business losses against the commission income. The ITAT rejected the Revenue's appeals, affirming the genuineness of the business arrangement and its alignment with the company's memorandum of association. The decision was supported by substantial evidence, leading to the dismissal of the Revenue's challenges. en-us Wed, 31 Mar 2010 00:00:00 +0530 Sat, 20 Jul 2013 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209409 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income-tax (Appeals) decision, determining that the income received by the assessee as commission should be treated as business income. This classification enabled the assessee to set off its carried forward business losses against the commission income. The ITAT rejected the Revenue's appeals, affirming the genuineness of the business arrangement and its alignment with the company's memorandum of association. The decision was supported by substantial evidence, leading to the dismissal of the Revenue's challenges. Case-Laws Income Tax Wed, 31 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209409