https://www.taxtmi.com/caselaws?id=345708 The court held that the appellant was not entitled to a deduction of 40% of profits derived from long-term finance for income received on account of EMI residuals from loan portfolios transferred to another entity. The court found that the appellant ceased to be engaged in long-term finance concerning the transferred portfolios as the risk and profit were transferred to the entity receiving the portfolios. Additionally, the court dismissed the appellant's challenge to the Tribunal's interpretation of the relevant provision, upholding the disallowance of the deduction for income from transferred loan portfolios. en-us Tue, 18 Jul 2017 00:00:00 +0530 Mon, 13 Nov 2017 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345708 The court held that the appellant was not entitled to a deduction of 40% of profits derived from long-term finance for income received on account of EMI residuals from loan portfolios transferred to another entity. The court found that the appellant ceased to be engaged in long-term finance concerning the transferred portfolios as the risk and profit were transferred to the entity receiving the portfolios. Additionally, the court dismissed the appellant's challenge to the Tribunal's interpretation of the relevant provision, upholding the disallowance of the deduction for income from transferred loan portfolios. Case-Laws Income Tax Tue, 18 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345708