Tag: apportionment section 80O

Deduction u/s 80-O was rightly denied as assesse worked only as an agent of foreign enterprises – Supreme Court ABCAUS Case Law Citation:ABCAUS 3317 (2020) (06) SC Important case law relied upon by the parties:E.P.W. Da Costa and Ors. v.Union of India: (1980) 121 ITR 751 (Delhi)Capt. K. …

In its  latest judgment , Delhi High Court has held that deduction under Section 80-O of the Income tax Act, 1961 computed applying average profit margin for domestic income and not considering fixed costs was a distorted apportionment of net profit. Case Law Details: ITA 264/2002 ITA 415/2004 M/s Continental Carriers …… …