Case Law Details
Case Name : Tube Investments of India Ltd. Vs. ACIT (Madras High Court)
Appeal Number : W.P. Nos. 33766 of 2007, 1106, 1107, 1690, 1691, 2478, 2479, 3330, 3331, 4782, 5109, 5110, 28097, 1056, 1057, 1717, 1718, 2013, 2014 & 9142 of 2008, 10750 & 10751 of 2009
Date of Judgement/Order : 29/09/2009
Related Assessment Year :
Courts :
All High Courts Madras High Court
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RELEVANT PARAGRAPH
47. As the challenge in all these writ petitions is to the vires of Section 40(a)(ia) of the Act, it will be appropriate to extract the provision as it stood as on the date of the challenge:
“Section 40. Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing the income chargeable under the head “Profits and gains of business or profession-
(a) in the case of an assessee-
(i)…..
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