https://www.taxtmi.com/caselaws?id=759435 Delhi HC upheld ITAT's decision allowing deduction u/s 80IC to the assessee who established manufacturing unit at Parwanoo prior to amalgamation. Court found no colorable device in the legal amalgamation process. HC confirmed ITAT's deletion of royalty payment disallowance, noting expenses were capital in nature. However, HC reversed ITAT's classification of rental income, directing AO to tax Rs. 47.26 lakhs rental income under "income from house property" instead of "income from other sources," regardless of lease-license agreement terminology. en-us Wed, 11 Sep 2024 00:00:00 +0530 Mon, 30 Sep 2024 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759435 Delhi HC upheld ITAT's decision allowing deduction u/s 80IC to the assessee who established manufacturing unit at Parwanoo prior to amalgamation. Court found no colorable device in the legal amalgamation process. HC confirmed ITAT's deletion of royalty payment disallowance, noting expenses were capital in nature. However, HC reversed ITAT's classification of rental income, directing AO to tax Rs. 47.26 lakhs rental income under "income from house property" instead of "income from other sources," regardless of lease-license agreement terminology. Case-Laws Income Tax Wed, 11 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759435