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TMI Blog2025 (3) TMI 1425X X X X Extracts X X X X X X X X Extracts X X X X ..... hereinafter referred to as 'the Act'). 2. Heard both the parties. Case file perused. 3. The assessee pleads the following substantive grounds in the instant appeal: 1. That on the facts and in the circumstances of the case & in law, the order passed by the Ld Commissioner of Income Tax (Appeals) 44 [Ld. CIT(A)"), to the extent confirming Assessing Officer's ["AO"] action, is bad in law and void ab-initio 2. That on the facts and in the circumstances of the case & in law, the Ld. CIT(A) grossly erred in not allowing deduction in respect of Provision created on account of litigation of INR 15,155,582. 3. That on the facts and circumstances of the case and in law, the AO/CIT(A), has erred in not considering a lower tax withholding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted based on the beneficial provisions of the India- Sweden tax treaty, cess of INR 2,94,52,500 paid on DDT should be allowed as deduction for computing the total income as per the provisions of the Act. 6. That on facts and in the circumstances of the case and in law, the AO/CIT(A) has erred in not allowing complete credit of Tax Deducted at Source of INR 3,276,930,422 7. That on facts and in the circumstances of the case and in law, the AO/CIT(A) has erred in not allowing complete Foreign Tax Credit u/s 90/91 of INR 1,793,404 That the above grounds of appeal are without prejudice and notwithstanding each other, That the appellant reserves its right to add, amend, vary, omit or substitute any of the aforesaid grounds of appeal at a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia Pvt. Ltd. (2023) 149 taxmann.com 332 (Mum.) has already decided the issue against the assessee and in the department's favour that such an application of "MFN" clause is not automatic. We accordingly reject the assessee's instant third and fifth substantive grounds in very terms. 6. So far as the assessee's fourth substantive ground seeking deduction of Education Cess "EC" and secondly Higher Education Cess "HEC" is concerned, learned counsel submits very fairly that the same is no more allowable in light of Section 40(2) Explanation- III inserted by Finance Act, 2022 with retrospective effect from 01.04.2005. Rejected accordingly. 7. Learned counsel lastly submits that the assessee is no more whishes to press its sixth and seventh sub ..... X X X X Extracts X X X X X X X X Extracts X X X X
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