https://www.taxtmi.com/caselaws?id=216593 The appellant's claim for deduction under Section 80HHD of the Income-Tax Act for convertible foreign exchange earnings was partially allowed by the Income Tax Appellate Tribunal. The Tribunal upheld the claim for a specific commission receipt from M/s LKP Merchant Finance Company, treating it as business income for the purpose of calculating the deduction. The judgment clarified that income from the money exchange business should be considered as part of the business profits for deduction under Section 80HHD, ensuring correct treatment of such income. The appeal was disposed of based on this clarification, with no remaining grievance from the Revenue department. en-us Mon, 06 Aug 2012 00:00:00 +0530 Fri, 14 Sep 2012 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216593 The appellant's claim for deduction under Section 80HHD of the Income-Tax Act for convertible foreign exchange earnings was partially allowed by the Income Tax Appellate Tribunal. The Tribunal upheld the claim for a specific commission receipt from M/s LKP Merchant Finance Company, treating it as business income for the purpose of calculating the deduction. The judgment clarified that income from the money exchange business should be considered as part of the business profits for deduction under Section 80HHD, ensuring correct treatment of such income. The appeal was disposed of based on this clarification, with no remaining grievance from the Revenue department. Case-Laws Income Tax Mon, 06 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216593