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Rule 8(1): Taxable Tea Business Income to be determined after disallowance
Case Law Details
- Case Name
- Stewart Holl (India) Limited Vs Asistant Director of Income Tax (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Kolkata
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Stewart Holl (India) Limited Vs Asistant Director of Income Tax (ITAT Kolkata)
The case began with the assessee, Stewart Holl (India) Ltd, appealing against the Commissioner of Income Tax (Appeals) order that confirmed the entire disallowance of Rs. 2,51,10,171/- pertaining to late deposit of employees’ share towards Provident Fund contribution. The assessee contended that the income should be computed after making the disallowance, in accordance with Rule 8(1) of the Income Tax Rules, 1962. This rule states that the income from the business of tea growing and manufactur...
