NCLAT: Can Recall Admission Order of Application U/S 7 of IBC if Malicious Intent is Proved  ||  NCLAT: Can Replace Authorised Representative by Following Procedure Provided under CIRP Regulations  ||  Del. HC Restrains Battery Manufacturer from Using Images of Shikhar Dhawan  ||  Del HC Declines Assess. Issued in Wrong Name after Entity’s Merger, Distinguishes from SC Judgment  ||  Del. HC: Whether an Entity is a Permanent Establishment of Foreign Company is a Fact Specific Issue  ||  Del. HC: Mindset that Women should Endure Suffering is ‘Right’ Emboldens Perpetrators  ||  Ker HC: Can’t Lay Down Ratio that Allegations against Relatives of Husband are to be Viewed as False  ||  Del. HC: S. 129 of GST Act Can’t be Interpreted as Being Intended to Override Section 126 of GST Act  ||  Cal. HC: Once Seat of Arbitration is Designated it is to be Treated as Exclusive Jurisdiction  ||  Delhi HC Rules in Favour of ‘India Gate’ Brand in Trademark Infringement Suit    

SC: EEFC Forex Gains Not Eligible for Section 80 HHC Deduction - (23 Nov 2023)

DIRECT TAXATION

Supreme Court has held that gain on foreign exchange fluctuation in the EEFC (Exchange Earners Foreign Currency) account of the assessee can’t be included in the computation of deduction under profits of the business of the assessee under Section 80 HHC of Income Tax Act, 1961.

Tags : SUPREME COURT   FOREIGN EXCHANGE   GAIN   DEDUCTION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved