https://www.taxtmi.com/caselaws?id=259523 The Supreme Court ruled in favor of the Revenue, holding that the vend fee collected for machinery repair/replacement fell within the scope of Section 43B of the Income Tax Act post the 1988 Finance Act amendment. The Court emphasized that the nature of the fee, whether compulsory or consensual, was irrelevant as long as it qualified as a fee under Section 43B. The judgment clarified the broad interpretation of the provision and upheld the disallowance of the vend fee, ensuring consistency in tax treatment for such payments. en-us Thu, 07 May 2015 00:00:00 +0530 Sat, 08 Sep 2018 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259523 The Supreme Court ruled in favor of the Revenue, holding that the vend fee collected for machinery repair/replacement fell within the scope of Section 43B of the Income Tax Act post the 1988 Finance Act amendment. The Court emphasized that the nature of the fee, whether compulsory or consensual, was irrelevant as long as it qualified as a fee under Section 43B. The judgment clarified the broad interpretation of the provision and upheld the disallowance of the vend fee, ensuring consistency in tax treatment for such payments. Case-Laws Income Tax Thu, 07 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259523