Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (11) TMI 35 - HC - Income TaxDeduction under section 32AB - "Whether Tribunal was right in holding that interest and dividend income credited in the profit and loss account will form part of eligible business income under section 32AB ?" - Having regard to the content of section 32AB(3) and the scheme of the whole section, it is clear that it is the computation made in terms of Schedule VI of the Companies Act that has to be the starting point, and all the things included in that computation are required to be taken note of and not to be disregarded except to the extent specifically provided for in section 32AB(3) - there is no infirmity in the order of the Tribunal.
|