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2019 (10) TMI 229 - SCH - Income TaxClaim of certain expenses taken into account to claim statutory disallowance u/s 40(a) (ia) - HELD THAT - The said issue is covered in the Judgment of this Court in Commissioner of Income Tax, Central-III v. HCL Technologies Ltd. 2018 (5) TMI 357 - SUPREME COURT Mr. Dhruv Agarwal, learned senior counsel appearing for the petitioner-Department, has also fairly submitted that the monetary implication involved in this special leave petition is only ₹ 44,00,000/- (Rupees Forty Four Lakhs). SLP dismissed.
Issues Involved:
Interpretation of Section 40(a)(ia) of the Income Tax Act regarding the claim of certain expenses for statutory disallowance. Analysis: The Supreme Court, comprising Mrs. R. Banumathi and Mr. A.S. Bopanna, JJ., heard the case where the main issue was whether certain expenses could be considered for claiming statutory disallowance under Section 40(a)(ia) of the Income Tax Act. The Court referred to its previous judgment in Commissioner of Income Tax, Central-III v. HCL Technologies Ltd., 2018 (6) SCALE 524, which covered the same issue. The petitioner's counsel, Mr. Dhruv Agarwal, acknowledged that the monetary implication in the current case was only &8377; 44,00,000. Considering this, the Court dismissed the special leave petition and directed that any pending applications should be disposed of accordingly. The judgment did not involve any dissenting opinions or separate judgments by the judges. This case primarily revolved around the interpretation and application of Section 40(a)(ia) of the Income Tax Act. The Court's decision was influenced by the precedent set in a previous judgment, indicating a consistent approach in similar matters. The petitioner's counsel's acknowledgment of the relatively low monetary implication further supported the Court's decision to dismiss the special leave petition. The concise nature of the judgment, with no dissenting views or separate judgments, suggests a straightforward application of legal principles to the facts at hand. The Court's reliance on established legal provisions and past judgments demonstrates a commitment to consistency and precedent in its decision-making process.
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