https://www.taxtmi.com/caselaws?id=180016 Revisional jurisdiction under section 263 is explained as unavailable where the Assessing Officer, after inquiry, adopts one of two plausible views on a debatable issue. On partner remuneration, interest income included in the profit and loss account was treated as part of net profit for section 40(b), and selective exclusion of embedded non-business receipts was held impermissible. On truck hire payments, the arrangement was treated as a composite milk supply contract with transport only incidental, so it was not regarded as a works contract under section 194C and no TDS default arose for section 40(a)(ia). en-us Fri, 19 Nov 2010 00:00:00 +0530 Tue, 15 Mar 2016 12:22:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180016 Revisional jurisdiction under section 263 is explained as unavailable where the Assessing Officer, after inquiry, adopts one of two plausible views on a debatable issue. On partner remuneration, interest income included in the profit and loss account was treated as part of net profit for section 40(b), and selective exclusion of embedded non-business receipts was held impermissible. On truck hire payments, the arrangement was treated as a composite milk supply contract with transport only incidental, so it was not regarded as a works contract under section 194C and no TDS default arose for section 40(a)(ia). Case-Laws Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180016