Supreme Court Applies Section 40(a)(ia) of Income Tax Act in 2018 Case

The Supreme Court held in 2018 that Section 40(a)(ia) of the Income Tax Act applied to the petitioner. The court referred to a previous judgment in "CIT, Kolkata XII vs. M/s. Calcutta Export Company" to support its decision. The court issued a notice returnable in six weeks and stayed further demand in the interim.

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The Supreme Court of India issued an order in 2018 (8) TMI 768 - SC regarding Section 40(a)(ia) of the Income Tax Act. The petitioner's argument was supported by a previous judgment in "CIT, Kolkata XII vs. M/s. Calcutta Export Company." Notice issued, returnable in six weeks, with a stay on further demand in the meantime.

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