https://www.taxtmi.com/caselaws?id=347410 The High Court ruled in favor of the Revenue in an appeal concerning the interpretation of Section 80 HHC of the Income Tax Act. The court held that for deduction calculation, the total turnover considered should include profits and losses from all business activities, in line with a Supreme Court precedent. This decision overturned the earlier ruling by the Commissioner of Income Tax (Appeals) and directed the Assessing Officer to calculate the deduction based on the turnover of all business units. en-us Wed, 23 Aug 2017 00:00:00 +0530 Mon, 04 Sep 2017 09:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347410 The High Court ruled in favor of the Revenue in an appeal concerning the interpretation of Section 80 HHC of the Income Tax Act. The court held that for deduction calculation, the total turnover considered should include profits and losses from all business activities, in line with a Supreme Court precedent. This decision overturned the earlier ruling by the Commissioner of Income Tax (Appeals) and directed the Assessing Officer to calculate the deduction based on the turnover of all business units. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347410