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2017 (9) TMI 1527 - HC - Income TaxDisallowance u/s 14A - expenses of VRS scheme - Held that:- As far as disallowance under section 14A of the Act is concerned, the question does not subsist as in the assessee's own case for the previous assessment year, the said aspect has been considered in favour of the assessee and the said order has become final. As far as the expenses of VRS scheme is concerned, it has been held on fact by the Tribunal that the business of the assessee has not closed down and the same is continuing. This court in the case of CIT v. Foseco India Ltd. (2013 (6) TMI 227 - BOMBAY HIGH COURT) has observed that the expenditure incurred relating to VRS scheme is available as revenue expenses. No substantial question of law.
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