Bombay High Court Dismisses Revenue's Appeal in Asset Management Company Tax Case — Notional Addition Based on SEBI Ceiling Not Permissible. Investment advisory fees actually charged, not the maximum permissible under SEBI regulations, constitute taxable income.
12 Sep 2011The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the CIT (A)'s...
