2020 (2) TMI 332

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..... deduction under section 80 HHC - subsidiary companies on loans lent to them to meet their working capital requirements, and claimed by the Appellant as forming part of the income from Profits and gains of business could be considered as assessable as Income from other sources - HELD THAT:- Parties agree that the aforesaid substantial questions of law had been framed even in Tax Appeal [ 2020 ( .....

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..... Year 1999-2000 and Tax Appeal no.32/2007 relates to the Assessment Year 1998-99. 2. Both these Appeals came to be admitted vide order dated 25th June, 2007, on the following substantial questions of law : A) Whether on the facts and in the circumstances of the case, the receipts by way of Shipping Agency fees and hire charges of machinery and installations have to be reduced in terms o .....

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..... essable as Income from other sources ? D) Whether on the facts and in the circumstances of the case, the receipts in the Appellant's accounts under the heads (i) proceeds of services; (ii) hire of Ship/transhippers; (iii) hire of barges; and (iv) repairs of vessels by Shipyards, which receipts have substantial costs, and arise from the main business activity of the .....

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