https://www.taxtmi.com/caselaws?id=11745 The High Court of Bombay ruled in favor of the Department regarding the applicability of section 44C of the Income-tax Act, 1961. The court held that all three parameters under section 44C (a), (b), and (c) apply, and the least of these, which was nil under clause (a) due to the assessee's losses, justified the Assessing Officer's decision to disallow the deduction of head office expenses. Consequently, the court did not address the second issue as it was dependent on the outcome of the first issue, ultimately disposing of the reference with no order as to costs. en-us Thu, 24 Jul 2003 00:00:00 +0530 Sun, 07 Feb 2010 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11745 The High Court of Bombay ruled in favor of the Department regarding the applicability of section 44C of the Income-tax Act, 1961. The court held that all three parameters under section 44C (a), (b), and (c) apply, and the least of these, which was nil under clause (a) due to the assessee's losses, justified the Assessing Officer's decision to disallow the deduction of head office expenses. Consequently, the court did not address the second issue as it was dependent on the outcome of the first issue, ultimately disposing of the reference with no order as to costs. Case-Laws Income Tax Thu, 24 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11745