https://www.taxtmi.com/caselaws?id=234985 The Appellate Tribunal ruled against the assessee, emphasizing that income must be directly generated from the business activity to qualify for deductions under Sections 80HH, 80-I, and 80-IA of the Income Tax Act. The Supreme Court decision in Liberty India vs. Commissioner of Income Tax clarified that profits must be derived directly from business operations to be eligible for benefits under Section 80-IA. The Court differentiated between "profit derived from" and "profit attributable to," highlighting the need for income to originate from the primary business activity for deductions. The appeal was dismissed based on the Supreme Court's interpretation. en-us Thu, 30 May 2013 00:00:00 +0530 Sat, 06 Jul 2013 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234985 The Appellate Tribunal ruled against the assessee, emphasizing that income must be directly generated from the business activity to qualify for deductions under Sections 80HH, 80-I, and 80-IA of the Income Tax Act. The Supreme Court decision in Liberty India vs. Commissioner of Income Tax clarified that profits must be derived directly from business operations to be eligible for benefits under Section 80-IA. The Court differentiated between "profit derived from" and "profit attributable to," highlighting the need for income to originate from the primary business activity for deductions. The appeal was dismissed based on the Supreme Court's interpretation. Case-Laws Income Tax Thu, 30 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234985