Court Rules Electricity Charges Deductible u/s 43B; No Explicit Provision for Exclusion in Income Tax Act.

Court Rules Electricity Charges Deductible u/s 43B; No Explicit Provision for Exclusion in Income Tax Act. https://www.taxtmi.com/highlights?id=65899 Deduction u/s 43B - Section 43B of the Act does not speak about the electricity charges. Nowhere it is mentioned in the Section or proviso to it that unpaid electricity charges are not deductable. Revenue cannot interpret the provisions of Section 43B of the Act in its favour, since the provisions of Section do not incorporate the electricity charges - HC en-us Sat, 01 Oct 2022 17:48:19 +0530 Sat, 01 Oct 2022 17:48:19 +0530 TaxTMI RSS Generator Court Rules Electricity Charges Deductible u/s 43B; No Explicit Provision for Exclusion in Income Tax Act. https://www.taxtmi.com/highlights?id=65899 Deduction u/s 43B - Section 43B of the Act does not speak about the electricity charges. Nowhere it is mentioned in the Section or proviso to it that unpaid electricity charges are not deductable. Revenue cannot interpret the provisions of Section 43B of the Act in its favour, since the provisions of Section do not incorporate the electricity charges - HC Highlights Income Tax Sat, 01 Oct 2022 17:48:19 +0530 https://www.taxtmi.com/highlights?id=65899