https://www.taxtmi.com/caselaws?id=49556 A taxing proviso that refers only to "income, profits or gains" exempts those receipts from tax unless they are brought into the taxable territories, but does not exclude the underlying business from the charging scheme when it uses no express exclusionary language. On that reading, the third proviso to section 5 of the Business Profits Tax Act, 1947 left the Baroda business within the Act, so its losses could be taken into account in computing the assessee's business profits in India. Any ambiguity in the proviso was resolved in favour of the assessee. en-us Thu, 28 Apr 1960 00:00:00 +0530 Sat, 09 Jul 2016 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49556 A taxing proviso that refers only to "income, profits or gains" exempts those receipts from tax unless they are brought into the taxable territories, but does not exclude the underlying business from the charging scheme when it uses no express exclusionary language. On that reading, the third proviso to section 5 of the Business Profits Tax Act, 1947 left the Baroda business within the Act, so its losses could be taken into account in computing the assessee's business profits in India. Any ambiguity in the proviso was resolved in favour of the assessee. Case-Laws Income Tax Thu, 28 Apr 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49556