https://www.taxtmi.com/caselaws?id=11073 The court interpreted section 33AB of the Income-tax Act, 1961, regarding tea development allowance deduction. It clarified that the deduction should be based on the profits of the tea business, not the taxable income portion, emphasizing the specific business profits of growing and manufacturing tea in India. The court ruled in favor of the assessee, holding that the deduction under section 33AB should be tied to the profits of the tea business, rejecting the Revenue's argument based on rule 8 of the Income-tax Rules. en-us Thu, 22 May 2003 00:00:00 +0530 Thu, 30 Jul 2009 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11073 The court interpreted section 33AB of the Income-tax Act, 1961, regarding tea development allowance deduction. It clarified that the deduction should be based on the profits of the tea business, not the taxable income portion, emphasizing the specific business profits of growing and manufacturing tea in India. The court ruled in favor of the assessee, holding that the deduction under section 33AB should be tied to the profits of the tea business, rejecting the Revenue's argument based on rule 8 of the Income-tax Rules. Case-Laws Income Tax Thu, 22 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11073