Section 80CC amendment limits deduction to issues made wholly and exclusively for carrying on the business. Amendment revises eligibility for a tax deduction under section 80CC by requiring that the instrument be issued wholly and exclusively for the purposes of carrying on the business; it replaces the prior phrase referring to carrying on business 'with the main object of' and omits the proviso language about formation and registration in India with that main object.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 80CC amendment limits deduction to issues made wholly and exclusively for carrying on the business.
Amendment revises eligibility for a tax deduction under section 80CC by requiring that the instrument be issued wholly and exclusively for the purposes of carrying on the business; it replaces the prior phrase referring to carrying on business "with the main object of" and omits the proviso language about formation and registration in India with that main object.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
