Meaning of “Income by way of royalty, commission

Case Name : J.B. Boda & Co. (P.) Ltd. Vs. ITO

Citation :[1992] 41 ITD 36 (BOM.-TRIB.)

Court : ITAT-Bombay

Section : 80-O

Meaning : The expression ‘income by way of royalty, commission….’ Occurring in section 80-o of the income-tax act cannot be interpreted to mean income which is arrived at only after deducting expenses incurred directly to earn such income.

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