https://www.taxtmi.com/caselaws?id=359591 The Madras High Court affirmed that income derived from machining charges and other sources should be considered as business income for the purpose of deduction under Section 80HHC of the Income Tax Act. The Court upheld the decision of lower authorities, ruling in favor of the assessee and emphasizing the use of plant and machinery to generate income, even when not directly related to the main business activity. The judgment highlighted that when machinery is utilized for job work to earn income, it qualifies as business profit, leading to the dismissal of the tax case appeal brought by the Revenue. en-us Tue, 10 Apr 2018 00:00:00 +0530 Thu, 16 Aug 2018 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359591 The Madras High Court affirmed that income derived from machining charges and other sources should be considered as business income for the purpose of deduction under Section 80HHC of the Income Tax Act. The Court upheld the decision of lower authorities, ruling in favor of the assessee and emphasizing the use of plant and machinery to generate income, even when not directly related to the main business activity. The judgment highlighted that when machinery is utilized for job work to earn income, it qualifies as business profit, leading to the dismissal of the tax case appeal brought by the Revenue. Case-Laws Income Tax Tue, 10 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359591