https://www.taxtmi.com/caselaws?id=49698 The Supreme Court held that standard profits for a limited company with branches in India and a head office in London should include both Indian and foreign profits, rejecting the exclusion of foreign profits by the Excess Profits Tax Officer. The Court emphasized computing business profits under Section 10 before considering residency status under Section 4A. It affirmed the Tribunal and High Court's decision, stressing the importance of accurately determining business profits prior to assessing residency status for both income tax and excess profits tax purposes. en-us Fri, 29 Oct 1954 00:00:00 +0530 Tue, 09 Sep 2014 09:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49698 The Supreme Court held that standard profits for a limited company with branches in India and a head office in London should include both Indian and foreign profits, rejecting the exclusion of foreign profits by the Excess Profits Tax Officer. The Court emphasized computing business profits under Section 10 before considering residency status under Section 4A. It affirmed the Tribunal and High Court's decision, stressing the importance of accurately determining business profits prior to assessing residency status for both income tax and excess profits tax purposes. Case-Laws Income Tax Fri, 29 Oct 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49698