SC to Government: Keep the taxation structure straight forward & user-friendly
Last updated: 11 September 2021
Court :
Supreme Court of India
Brief :
In South Indian Bank Ltd. v. Commissioner of Income Tax [Civil Appeal No. 9606 of 2011 (with several other analogous appeals) dated September 09, 2021], South Indian Bank ("the Appellant") along with several other banks ("the Appellants") filed a civil appeal in the Supreme Court challenging the judgment of the Honorable Madras High Court and seeking clarity on the interpretation of Section 14 A of the Income Tax Act, 1961 ("the IT Act"). The Appellant sought lucidity on account of why the expenditure incurred, by them, in bonds and shares is not tax deductible under Section 14 A of the IT Act.
Citation :
Civil Appeal No. 9606 of 2011 (with several other analogous appeals) dated September 09, 2021
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Bimal Jain
Published in Income Tax
Views : 140
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