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Classification as business or profession

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21 July 2010 Is manpower consultance a business or a profession for the purpose of sec 44AB audit..
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 July 2010 It is business. Reasons are :-
1) It is not covered in the notified profession u/s 44AA.
2) Business does not necessarily mean trade or manufacture only.
3) Supreme court has said in CIT Vs. Manmohan Das (1966) 59 ITR 699 that classification of business or profession will depend on the facts and circumstances of each case.
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