https://www.taxtmi.com/caselaws?id=20469 The High Court held that the activities of the assessee as clearing, forwarding, and shipping agents did not qualify as a "profession" under the Finance Acts of 1976 and 1977. The court ruled in favor of the Revenue, denying the assessee the lower tax rates applicable to professional income. The judgment emphasized the requirement of purely intellectual skill for a profession, distinguishing it from business activities. Consequently, the assessee was not entitled to the tax benefits sought, and no costs were awarded in this case. en-us Fri, 01 Oct 1993 00:00:00 +0530 Sat, 14 Nov 2009 11:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20469 The High Court held that the activities of the assessee as clearing, forwarding, and shipping agents did not qualify as a "profession" under the Finance Acts of 1976 and 1977. The court ruled in favor of the Revenue, denying the assessee the lower tax rates applicable to professional income. The judgment emphasized the requirement of purely intellectual skill for a profession, distinguishing it from business activities. Consequently, the assessee was not entitled to the tax benefits sought, and no costs were awarded in this case. Case-Laws Income Tax Fri, 01 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20469