https://www.taxtmi.com/caselaws?id=345384 The High Court ruled in favor of the appellant, stating that the surrendered amount should be considered part of the income from business for computing book profits. The Court emphasized the importance of consistent treatment of income across different sections of the Income Tax Act, ultimately allowing the appeal and clarifying the interpretation of Section 40(b) in the context of surrendered amounts during a survey. en-us Mon, 12 Jun 2017 00:00:00 +0530 Sat, 15 Jul 2017 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345384 The High Court ruled in favor of the appellant, stating that the surrendered amount should be considered part of the income from business for computing book profits. The Court emphasized the importance of consistent treatment of income across different sections of the Income Tax Act, ultimately allowing the appeal and clarifying the interpretation of Section 40(b) in the context of surrendered amounts during a survey. Case-Laws Income Tax Mon, 12 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345384