Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age  ||  Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage  ||  Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct  ||  Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments  ||  Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made  ||  SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail  ||  Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams  ||  SC: Central Government Employees under CCS Rules are Not Covered by the Payment of Gratuity Act  ||  Supreme Court Holds CrPC Principles on Discharge and Framing of Charges Continue under BNSS  ||  Supreme Court: High Courts Must Independently Assess SC/ST Act Charges in Section 14A Appeals    

Orissa HC: Deposit of Amount in No-Lien/Escrow Account Will Not Constitute Actual Payment - (11 Mar 2022)

DIRECT TAXATION

Orissa High Court has ruled that deposit of amount in no-lien/escrow account will not constitute actual payment under Section 43-B of the Income Tax Act, 1961. The Section provides a list of expenses allowed as deduction under the head income from business and profession. It states some expenses that can be claimed as deduction from the business income only in the year of actual payment.

Tags : ORISSA HIGH COURT   DEPOSIT OF AMOUNT IN NO-LIEN/ESCROW ACCOUNT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved