https://www.taxtmi.com/caselaws?id=431454 The ITAT upheld the CIT(A)'s decision, allowing the set off of franchise fees against brought forward business loss. It was determined that the franchise fee income, earned in the course of the appellant's business, was assessable as business income and eligible for set off, regardless of its classification as royalty income. The nature of income did not affect its eligibility for set off, as long as it was derived from the business or profession conducted by the assessee. en-us Thu, 01 Sep 2022 00:00:00 +0530 Tue, 13 Dec 2022 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431454 The ITAT upheld the CIT(A)'s decision, allowing the set off of franchise fees against brought forward business loss. It was determined that the franchise fee income, earned in the course of the appellant's business, was assessable as business income and eligible for set off, regardless of its classification as royalty income. The nature of income did not affect its eligibility for set off, as long as it was derived from the business or profession conducted by the assessee. Case-Laws Income Tax Thu, 01 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431454