https://www.taxtmi.com/caselaws?id=348480 The court upheld the constitutionality of sub-section (7) of Section 35AC of the Income Tax Act, 1961, which withdrew deductions for expenditures incurred after 01.04.2017. Despite the potential impact on ongoing projects, the court ruled that the Parliament had the legislative competence to make such changes in economic matters. Emphasizing judicial restraint in economic legislation, the court dismissed the petition, affirming the validity of the deduction withdrawal as prospective and within the Parliament's authority. en-us Thu, 14 Sep 2017 00:00:00 +0530 Fri, 15 Dec 2017 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348480 The court upheld the constitutionality of sub-section (7) of Section 35AC of the Income Tax Act, 1961, which withdrew deductions for expenditures incurred after 01.04.2017. Despite the potential impact on ongoing projects, the court ruled that the Parliament had the legislative competence to make such changes in economic matters. Emphasizing judicial restraint in economic legislation, the court dismissed the petition, affirming the validity of the deduction withdrawal as prospective and within the Parliament's authority. Case-Laws Income Tax Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348480