https://www.taxtmi.com/caselaws?id=403233 The ITAT Mumbai partially allowed the appeal, granting the deduction for education cess and secondary & higher education cess. The Tribunal aligned with the Bombay and Rajasthan High Courts' interpretations, distinguishing "cess" from "tax" under section 40(a)(ii) of the Income Tax Act, 1961, thus clarifying its deductibility in computing business income. en-us Thu, 17 Dec 2020 00:00:00 +0530 Wed, 30 Oct 2024 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403233 The ITAT Mumbai partially allowed the appeal, granting the deduction for education cess and secondary & higher education cess. The Tribunal aligned with the Bombay and Rajasthan High Courts' interpretations, distinguishing "cess" from "tax" under section 40(a)(ii) of the Income Tax Act, 1961, thus clarifying its deductibility in computing business income. Case-Laws Income Tax Thu, 17 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403233