https://www.taxtmi.com/caselaws?id=26518 The High Court ruled in favor of the assessee regarding the deduction of a sum paid to a foreign company under a treaty agreement, emphasizing the contractual obligation to pay taxes. On the second issue of entitlement to relief under section 80M without reducing business expenses, the Court sided with the Revenue due to the retrospective effect of the Finance Act. The judgment provided a thorough analysis of the contractual obligations and legal provisions, leading to the respective outcomes for each issue. en-us Tue, 13 Aug 1985 00:00:00 +0530 Fri, 05 Feb 2010 15:36:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26518 The High Court ruled in favor of the assessee regarding the deduction of a sum paid to a foreign company under a treaty agreement, emphasizing the contractual obligation to pay taxes. On the second issue of entitlement to relief under section 80M without reducing business expenses, the Court sided with the Revenue due to the retrospective effect of the Finance Act. The judgment provided a thorough analysis of the contractual obligations and legal provisions, leading to the respective outcomes for each issue. Case-Laws Income Tax Tue, 13 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26518