https://www.taxtmi.com/caselaws?id=327090 The Tribunal upheld the decision that advances received were not deemed dividends under Section 2(22)(e) as it was a commercial transaction. The issue of tax implications on commission payments to foreign agents was remitted back to the AO for verification. The Tribunal allowed the deduction for job work income under Section 80IB but remitted the issue for further clarification. Gains on foreign exchange forward contracts were held eligible for deduction under Section 80IB as they were directly related to export business. The appeals were partly allowed for statistical purposes. en-us Wed, 27 Apr 2016 00:00:00 +0530 Sun, 01 May 2016 23:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327090 The Tribunal upheld the decision that advances received were not deemed dividends under Section 2(22)(e) as it was a commercial transaction. The issue of tax implications on commission payments to foreign agents was remitted back to the AO for verification. The Tribunal allowed the deduction for job work income under Section 80IB but remitted the issue for further clarification. Gains on foreign exchange forward contracts were held eligible for deduction under Section 80IB as they were directly related to export business. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327090