The Supreme Court in the case of Maruti Suzuki India Ltd v CIT has held that MODVAT credit does not qualify as ‘any sum payable by the assessee by way of tax, duty, cess or fee’ u/s 43B of the Central Excise Act hence the unutilized credit under MODVAT scheme does not qualify for a […]
The post MODVAT Credit not allowable as Deduction u/s 43B of Income Tax Act: Supreme Court [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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