https://www.taxtmi.com/caselaws?id=3697 The High Court upheld the Assessing Officer's and Commissioner of Income-tax (Appeals)'s calculations, ruling in favor of the Revenue and against the assessee. It held that 10 per cent of the mobilization charges should be deemed income for tax purposes, contrary to the ITAT's interpretation of taxing the charges at 1 per cent based on Circular No. 1767. The Court found the ITAT's reliance on the circular to be erroneous as it was misapplied and beyond its intended scope, ultimately setting aside the ITAT's decision on the taxability of the charges. en-us Mon, 08 Oct 2007 00:00:00 +0530 Sun, 27 Jul 2008 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3697 The High Court upheld the Assessing Officer's and Commissioner of Income-tax (Appeals)'s calculations, ruling in favor of the Revenue and against the assessee. It held that 10 per cent of the mobilization charges should be deemed income for tax purposes, contrary to the ITAT's interpretation of taxing the charges at 1 per cent based on Circular No. 1767. The Court found the ITAT's reliance on the circular to be erroneous as it was misapplied and beyond its intended scope, ultimately setting aside the ITAT's decision on the taxability of the charges. Case-Laws Income Tax Mon, 08 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3697