Tag: Tax Litigation
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Deduction under Section 36(1)(viii) Restricted to Profits from Long-Term Finance; No Benefit for Incidental Income
In a significant ruling, the Supreme Court has clarified that the income-tax deduction under Section 36(1)(viii) of the Income-tax Act is strictly limited to...
CESTAT Mumbai Rules NPV-Settled Sales Tax Cannot Be Added to Excise Value
Mumbai: In a significant ruling, the CESTAT Mumbai has held that sales tax deferred under a state incentive scheme—and subsequently discharged by paying its...
