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2019 (7) TMI 986 - MADRAS HIGH COURTAddition u/s 41 - remission of liability - difference between the sales-tax loan amount and the amount paid on Net present value basis under the sales-tax deferral scheme of Maharashtra Government - HELD THAT:- While affirming the order passed by the High Court of Bombay in Sulzer India Ltd. [2014 (12) TMI 267 - BOMBAY HIGH COURT] the Hon'ble Supreme Court in Balkrishna Industries Ltd. [2017 (11) TMI 1626 - SUPREME COURT] held that the approach of the High Court of Bombay is without any blemish, inasmuch as all the requirements of Section 41(1) of the Act could not be fulfilled in the case on hand. Appeal filed by the Revenue fails and the same is dismissed and the substantial questions of law are answered against the Revenue.
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