https://www.taxtmi.com/caselaws?id=256017 The court affirmed that the service income declared by the assessee was classified as business income, allowing for the deduction of royalty payments under Section 37(1) of the Income Tax Act, 1961. It held that the allocation of administrative expenses to the subsidiary was justified, disallowed depreciation on assets used by employees, classified food tasting and development expenses as revenue expenditure, and upheld the validity of provisional liability claims. The court ruled in favor of the assessee on all issues, dismissing the revenue's appeals. en-us Fri, 30 Jan 2015 00:00:00 +0530 Fri, 08 May 2015 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256017 The court affirmed that the service income declared by the assessee was classified as business income, allowing for the deduction of royalty payments under Section 37(1) of the Income Tax Act, 1961. It held that the allocation of administrative expenses to the subsidiary was justified, disallowed depreciation on assets used by employees, classified food tasting and development expenses as revenue expenditure, and upheld the validity of provisional liability claims. The court ruled in favor of the assessee on all issues, dismissing the revenue's appeals. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256017