| COURT: | Delhi High Court |
| CORAM: | Sanjiv Khanna J, V. Kameswar Rao J |
| SECTION(S): | 10B |
| GENRE: | Domestic Tax |
| CATCH WORDS: | derived from the undertaking, exemption |
| COUNSEL: | Simran Mehta |
| DATE: | November 13, 2014 (Date of pronouncement) |
| DATE: | March 3, 2015 (Date of publication) |
| AY: | 2008-09, 2009-10 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 10B(4): All business profits of the undertaking are eligible for deduction and it is not necessary to show that they have a "direct nexus" with the undertaking | |
Sub-section (4) of s. 10B does not require an assessee to establish a direct nexus with the business of the undertaking and once an income forms part of the business of the undertaking, the same would be included in the profits of the business of the undertaking. Thus, once an income forms part of the business of the eligible undertaking, there is no further mandate in the provisions of section 10B to exclude the same from the eligible profits
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