2024 (5) TMI 110 - SCH - Income Tax

Maintainability of appeal before SC on tax effect - income qualification for deduction u/s 80HHC of the Act - excluding the net profit or gross profit - Benefit of netting - HELD THAT - As petitioner states that there is no reason to dispute the tax effect calculation submitted by the learned counsel appearing for the respondent. The tax effect is below the threshold limits. Therefore the Special Leave Petition is disposed of. However question of law if any is kept open.

Summary

The Supreme Court disposed of the Special Leave Petition as the tax effect was below threshold limits. The question of law remains open, and any pending applications are disposed of.