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Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Exemption u/s 11 - Scope of newly inserted section 11(6) - ...


Apex Court Clarifies Section 11(6) Amendment: No Retroactive Application for 2014-15; Prospective from 2015-16 Onwards.

February 10, 2023

Case Laws     Income Tax     AT

Exemption u/s 11 - Scope of newly inserted section 11(6) - Depreciation on assets - Double benefit - Apex Court has as settled the issue - amendment brought in Section 11(6) of the Act vide Finance Act, no. 2 / 2014 is prospective in nature, from assessment year 2015-1,6 while the present year under consideration is A.Y. 2014-15. - AT

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