Bombay HC: Court Setting Aside Magistrate's Order for Police Investi. Won’t Lead to Quashing of FIR  ||  SC: Evidence by Power of Attorney Holders Can Only be Given of Facts Within Their Personal Knowledge  ||  Delhi High Court: Compensation Can be Awarded on Guesswork When it is Difficult to Prove Loss  ||  Madhya Pradesh HC: If Efficacious Remedy Available Before Arbitrator Writ Will Not be Maintainable  ||  Allahabad High Court: Can’t Decide Jurisdiction of DRTs Solely on the Basis of Location of Asset  ||  Delhi High Court: Fundamental to an Individual’s Identity to be Identified by One’s Name  ||  Ker. HC: Directions to Centre to Desist Telecasting Shows Found Violative of Broadcasting Regulations  ||  All. HC: Arbitrator to Decide Whether Claims Prior to Work Order are Covered by Arb. Clause or Not  ||  Kerala High Court: Schools Without Playgrounds Should be Closed by Government  ||  Bom. HC Sets Aside Reinstatement Order of Hindustan Petroleum Workman Who Slapped His Supervisor    

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