2015 (10) TMI 1496

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in holding that the royalty income is not derived by the appellant in the exercise of profession and is therefore not entitled to deduction u/s 80QQB. 3. The ld. CIT(A) erred in holding that the appellant has not parted with / assigned nor granted any rights in the copy right of any book. 4. The ld. CIT(A) erred in holding that the transaction of appellant receiving royalty of Rs. 2,70,000 without deduction of tax at source from a family concern (M/s. Majestic Prakashan) is a questionable transaction with a view to avoid payment of tax. 2. The assessee has authored a book "Perfect Recipes" and since assessment year 2002-03 the assessee is receiving royalty, which for the year under consideration is a sum of Rs. 2,70,000. On the said sum....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....5. On the other hand, it was submitted by the learned Departmental Representative that cookery does not fall within the definition of "art". He submitted that it has been found by the learned CIT(A) that the assessee is having business income from the proprietorship concern M/s. Majestic Book Depot and M/s. Deepawali Annual and no professional income from cookery has been shown by the assessee at any point of time. Thus, he pleaded that the learned CIT(A) has rightly held that deduction under section 80QQB, cannot be allowed to the assessee. 6. Per-contra, it was submitted by the learned Counsel that as per the definition of "Business" given in section 2(13), it include adventure in nature of trade and in view of one time venture of the as....