2000 (6) TMI 2 - HC - Income Tax

Summary

The High Court Bombay judgment dealt with the scope of section 40(a)(ii) of the Income-tax Act, 1961. The issue was whether business tax paid by the assessee in Thailand was entitled to deduction. The court ruled that section 40(a)(ii) did not apply to business tax as it was on turnover, not income. The appeal was dismissed, and the assessee was allowed to claim deduction for the business tax paid in Thailand.