https://www.taxtmi.com/caselaws?id=49266 The Supreme Court upheld the taxability of income from a Hong Kong business controlled from India, ruling that the income was fully taxable as the business was controlled from India throughout the accounting year. Additionally, the Court rejected the appellant's claim to set off losses from the Hong Kong business in 1941 against the income, emphasizing that the High Court's consideration was limited to the losses of 1941 as per the question referred. The Court dismissed the appeal, affirming the decisions of the Tribunal and the High Court without addressing new arguments beyond the scope of the referred questions. en-us Tue, 14 Dec 1965 00:00:00 +0530 Mon, 18 Aug 2014 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49266 The Supreme Court upheld the taxability of income from a Hong Kong business controlled from India, ruling that the income was fully taxable as the business was controlled from India throughout the accounting year. Additionally, the Court rejected the appellant's claim to set off losses from the Hong Kong business in 1941 against the income, emphasizing that the High Court's consideration was limited to the losses of 1941 as per the question referred. The Court dismissed the appeal, affirming the decisions of the Tribunal and the High Court without addressing new arguments beyond the scope of the referred questions. Case-Laws Income Tax Tue, 14 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49266