Cess being part of the tax is not allowable as deduction u/s 40(a)(ii)

Cypress Semiconductor Technology India Private Limited Vs DCIT (ITAT Bangalore) Held that cess forms part of the tax and the same cannot be allowed as deduction by virtue of provisions of section 40(a)(ii) of the I.T.Act Facts- The assessee alleges that cess was not levied on the profits and gains of business, and does not satisfy the second limb of section 40(a)(ii) of the Income Tax Act which stated that cess is not levied on the profits. On the other hand, department alleges that insertion of explanation 3 to section 40(a)(ii) of the I.T. Act by Finance Act, 2022 with effect from 01.04.2005...