TMI Blog2018 (4) TMI 1368X X X X Extracts X X X X X X X X Extracts X X X X ..... business and it was never the case of the assessee that it forms part of the total turnover. As relying on case of Commissioner of Income Tax Vs.K.Ravindranathan Nair [2007 (11) TMI 10 - Supreme Court of India] we find that the Tribunal was fully justified in permitting the alternate plea of set off to be raised and there is no error in the order passed by the Tribunal. - Tax Case (Appeal) N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was right in law in holding that crane hire charges cannot be treated as turnover of the appellant 4. The learned counsel appearing for the appellant/assessee, in both the appeals, contended that the Income Tax Appellate Tribunal ought to have appreciated the crane hire charges received by the appellant was nothing, but a part of its regular operation of its business and therefore, the same o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this being a business income, the set off of the crane hire charges paid against the crane hire charges received should be allowed. Accordingly, the Tribunal, while accepting the alternate plea, as put forth by the assessee, directed the Assessing Officer to recalculate the income. In the light of the stand taken before the Tribunal, we find that this particular crane higher charges received by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , was an independent income like rent, commission, brokerage etc., and, therefore, 90 per cent of the said sum had to be reduced from the gross total income to arrive at the business profits and since the said processing charge was an important component of business profits, it also had to be included in the total turnover in the said formula to arrive at business profits in terms of cl.(baa) to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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