{"id":37716,"date":"2023-10-16T11:16:27","date_gmt":"2023-10-16T05:46:27","guid":{"rendered":"https:\/\/itatonline.org\/digest\/jcit-v-chambal-fertilizers-chemicals-ltd-2023-291-taxman-438-sc\/"},"modified":"2023-10-16T11:16:27","modified_gmt":"2023-10-16T05:46:27","slug":"jcit-v-chambal-fertilizers-chemicals-ltd-2023-291-taxman-438-sc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jcit-v-chambal-fertilizers-chemicals-ltd-2023-291-taxman-438-sc\/","title":{"rendered":"JCIT v. Chambal Fertilizers &#038; Chemicals Ltd. (2023) 291 Taxman 438 (SC)"},"content":{"rendered":"<p>The Supreme Court held that Explanation 3 to section 40(a)(ii) inserted by Finance Act, 2022 with effect from 1-4-2005, made it clear that any surcharge or cess forms part of &#8216;tax&#8217; and same could not be allowed as deduction while computing profits and gains of business of assessee, therefore, Education Cess claimed by the assessee was not allowable as a deduction under section 37(1). (AY. 2004-2005)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Education cess-Not allowable as deduction-As per Explanation 3 to the provision of section 40(a)(ii) inserted by Finance Act, 2022 with effect from 1-4-2005 surcharge or cess forms a part of &#8216;tax&#8217; [S. 40(a)(ii)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-37716","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9Ok","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=37716"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37716\/revisions"}],"predecessor-version":[{"id":37717,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37716\/revisions\/37717"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=37716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=37716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=37716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}