https://www.taxtmi.com/caselaws?id=239251 Net conversion charges received from job work are includible under clause (baa) of the Explanation to Section 80HHC of the Income-tax Act when computing adjusted business profits. Treating such receipts as independent income forming part of gross total income, the Court applied the Supreme Court's principles on processing charges and held that they do not escape the statutory reduction. Accordingly, for the Section 80HHC computation, ninety per cent of the net conversion charges must be reduced from the relevant receipts to arrive at business profits. en-us Tue, 24 Sep 2013 00:00:00 +0530 Fri, 31 Jan 2014 09:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239251 Net conversion charges received from job work are includible under clause (baa) of the Explanation to Section 80HHC of the Income-tax Act when computing adjusted business profits. Treating such receipts as independent income forming part of gross total income, the Court applied the Supreme Court's principles on processing charges and held that they do not escape the statutory reduction. Accordingly, for the Section 80HHC computation, ninety per cent of the net conversion charges must be reduced from the relevant receipts to arrive at business profits. Case-Laws Income Tax Tue, 24 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239251