https://www.taxtmi.com/caselaws?id=10217 The court ruled in favor of including interest and dividend income in the calculation of eligible business income under section 32AB of the Income-tax Act. The judgment emphasized that such income should be considered part of eligible business profits unless specifically excluded by the Act. The court highlighted the importance of adhering to the Companies Act's provisions in computing eligible business profits and rejected the appellate authority's decision to exclude interest and dividend income related to eligible business profits. The appeal was dismissed, affirming the Tribunal's directive to include interest and dividend income in the calculation of eligible business income. en-us Fri, 05 Nov 2004 00:00:00 +0530 Fri, 10 Jul 2009 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10217 The court ruled in favor of including interest and dividend income in the calculation of eligible business income under section 32AB of the Income-tax Act. The judgment emphasized that such income should be considered part of eligible business profits unless specifically excluded by the Act. The court highlighted the importance of adhering to the Companies Act's provisions in computing eligible business profits and rejected the appellate authority's decision to exclude interest and dividend income related to eligible business profits. The appeal was dismissed, affirming the Tribunal's directive to include interest and dividend income in the calculation of eligible business income. Case-Laws Income Tax Fri, 05 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10217