Karnataka HC: Ex-Parte Order of German Court Granting Custody to Mother Not Acceptable  ||  P&H HC Issues Guidelines to Check Unnecessary Arrests  ||  SC: Members of RPF Can Seek Benefit Under Employees Compensation Act  ||  SC: For Appling S.106 of TPA, Tenant Must Prove That Premises was Leased for Manufacturing Purpose  ||  SC: Courts Should Restrain While Exercising Judicial Review in Contracts Involving Technical Issues  ||  Del. HC: Accrual of Cause of Action at a Place is not a Consideration for Determining Jurisdiction  ||  Mad. HC to State: Prevent use of Stickers such as ‘Police’ or ‘GOI’ on Private Vehicles  ||  Bom. HC: Magistrate Needn’t Provide Additional Reasons for Amount of Interim Compensation Awarded  ||  Del. HC: ‘THEOBROMA’ is Free to Expand its Outlets Across the Country  ||  Ker. HC: Detention Order Under KAPPA 2007 must be Confirmed Within 3 Months from Date of Execution    

Supreme Court: MODVAT Credit not Allowable as Deduction u/s 43B of Income Tax Act, 1961 - (10 Feb 2020)

DIRECT TAXATION

Supreme Court has held that MODVAT credit does not qualify as ‘any sum payable by the Assessee by way of tax, duty, cess or fee’ under Section 43B of the Central Excise Act, 1944 hence the unutilized credit under MODVAT scheme does not qualify for a deduction under Section 43B of the Income Tax Act, 1961.

Tags : SUPREME COURT   DEDUCTION  

Share :        

Disclaimer | Copyright 2023 - All Rights Reserved