Case Law Details
Case Name : Vardhman Polytex Ltd. Vs Commissioner of Income-tax (Supreme Court of India)
Appeal Number : Civil appeal nos. 6438 and 6443 of 2012
Date of Judgement/Order : 12/09/2012
Related Assessment Year :
Courts :
Supreme Court of India
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SUPREME COURT OF INDIA
Vardhman Polytex Ltd.
v/s.
Commissioner of Income-tax
Civil appeal nos. 6438 and 6443 of 2012
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In the context herein, though not of direct relevance to the limited point of issue, it is worthwhile to bear in mind the following:
The implications of section 36(1)(iii), which was being considered as almost a settled law, came to be relooked at in the aftetrmath of introduction of Section 14A with retrospective effect. However, according to a view, NOT WITHOUT SUBSTANCE, the lately ongoing controversy whether the said provision i.e. section 14A can be construed to modify or override in any manner the existing legal position under section 36 (1)(iii), especially if rw / in the light of the residuary provsion of section 37(1), is misconceived and not well founded.
For a critique, one may look up the published article – 14 CPT 819. Perhaps, that may help help in understanding in proper light all related issues arising under sectionb 36 (1 related