https://www.taxtmi.com/caselaws?id=221149 The case involved various tax-related issues under the Income Tax Act, 1961. The court allowed the deduction of Rs.10,00,000 under section 37(1) for business purposes, rejected the adjustment of loss on export under section 80HHC(3), upheld the exclusion of certain miscellaneous income under section 80IB, allowed the payment to staff sports club under section 40A(9) based on a High Court judgment, and directed that deduction under section 80-IB should be based on gross total income. The court also noted the levy of interest under section 234D for consequential action. The appeals were partly allowed with specific directions for re-computation by the tax authorities. en-us Fri, 09 Nov 2012 00:00:00 +0530 Mon, 25 Feb 2013 10:10:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221149 The case involved various tax-related issues under the Income Tax Act, 1961. The court allowed the deduction of Rs.10,00,000 under section 37(1) for business purposes, rejected the adjustment of loss on export under section 80HHC(3), upheld the exclusion of certain miscellaneous income under section 80IB, allowed the payment to staff sports club under section 40A(9) based on a High Court judgment, and directed that deduction under section 80-IB should be based on gross total income. The court also noted the levy of interest under section 234D for consequential action. The appeals were partly allowed with specific directions for re-computation by the tax authorities. Case-Laws Income Tax Fri, 09 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221149