| COURT: | Karnataka High Court |
| CORAM: | N. Kumar J, Rathnakala J |
| SECTION(S): | 41(1) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Net Present Value (NPV), sales-tax remission |
| COUNSEL: | S. R. Anuradha |
| DATE: | September 2, 2014 (Date of pronouncement) |
| DATE: | October 9, 2014 (Date of publication) |
| AY: | |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Premature payment of sales-tax deferral loan by paying an amount equal to the net present value of the deferred tax by which the entire liability to pay tax/loan stood discharged is not a "benefit" taxable u/s 41 (1) | |
As per an incentive scheme announced by the Government of Maharashtra, the assessee entered into an agreement to avail the benefits under deferral/1993 scheme which provides for deferment of payment of taxes. This agreement not only determined the eligibility of …
CIT vs. McDowell & Co Ltd (Karnataka High Court) Read More »
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