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Income Tax - Highlights / Catch Notes

Home Highlights March 2020 Year 2020 This

Validity of Section 40(a)(iib) - Scope of the term "Charges" - ...

Case Laws     Income Tax

March 17, 2020

Validity of Section 40(a)(iib) - Scope of the term "Charges" - Whether Value Added Tax (VAT) would be falling within the definition of a “charge” - petitioner Corporation contending that the amount which is deductible in computing the income chargeable in terms of the Income Tax Act is not being allowed under the garb of the aforesaid provision - as the matter is still sub judice before the Income Tax Authority, we are not inclined to entertain the writ petition - HC

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