Wednesday 13 November 2013

Misc. income having nexus with business activities is composite income for apportionment of agricult

IT: Receipts of premium on import licence, sale of scrap, miscellaneous garden income and excise duty having direct nexus with assessee's activities of growing, manufacturing and selling of tea should be treated assessee's composite income before apportionment thereof in terms of rule 8 of Income-tax Rules


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