{"id":20648,"date":"2021-07-26T13:57:38","date_gmt":"2021-07-26T08:27:38","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vtm-limited-v-dy-cit-2021-433-itr-182-mad-hc\/"},"modified":"2021-07-26T13:57:38","modified_gmt":"2021-07-26T08:27:38","slug":"vtm-limited-v-dy-cit-2021-433-itr-182-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vtm-limited-v-dy-cit-2021-433-itr-182-mad-hc\/","title":{"rendered":"VTM Limited v. Dy.CIT (2021) 433 ITR 182 (Mad.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Court held that the insurance claim and miscellaneous income had no nexus with the assessee\u2019s business. Since there was no nexus, the Tribunal rightly reversed the order of the appellate authority and restored that of the Assessing Officer for excluding receipts arising in the core business and not specified in Explanation (baa) to section\u00a080HHC. The insurance claim and miscellaneous income were not directly attributable to the business, and hence, they were liable for 90 per cent. deduction. Followed\u00a0 CIT v. Ravindranathan Nair (2007)\u00a0 295 ITR 228 (SC). (AY.2002-03, 2003-04)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80HHC : Export business-Insurance claim and miscellaneous income-No nexus with core business-Not entitle to deduction. [S. 80HHC(3)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-20648","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5n2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=20648"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20648\/revisions"}],"predecessor-version":[{"id":20649,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20648\/revisions\/20649"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}