P&H HC: Eyewitness Account Not Credible if Eyewitness Directly Identifies Accused in Court  ||  Delhi HC: Conditions u/s 45 PMLA Have to Give Way to Article 21 When Accused Incarcerated for Long  ||  Delhi High Court: Delhi Police to Add Grounds of Arrest in Arrest Memo  ||  Kerala High Court: Giving Seniority on the Basis of Rules is a Policy Decision  ||  Del. HC: Where Arbitrator has Taken Plausible View, Court Cannot Interfere u/s 34 of A&C Act  ||  Ker. HC: No Question of Estoppel Against Party Where Error is Committed by Court Itself  ||  Supreme Court: Revenue Entries are Admissible as Evidence of Possession  ||  SC: Mere Breakup of Relationship Between Consenting Couple Can’t Result in Criminal Proceedings  ||  SC: Bar u/s 195 CrPC Not Attracted Where Proceedings Initiated Pursuant to Judicial Order  ||  NTF Gives Comprehensive Suggestions on Enhancing Better Working Conditions of Medical Professions    

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 2024 - All Rights Reserved