Dear Subscriber,
The following important judgement is available for download at itatonline.org.
CIT vs. Sulzer India Limited (Bombay High Court)
S. 41(1): Payment of Net Present Value of sales-tax deferral loan does not constitute a taxable "benefit"
The High Court had to consider whether the judgement of the Special Bench of the Tribunal in Sulzer India Ltd vs. JCIT 138 ITD 1 (SB)(Mum) that the difference between the Net Present Value of sales-tax liability and its future liability is not chargeable to tax u/s 41(1) is correct or not. HELD by the […]
Regards,
Editor,
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