https://www.taxtmi.com/highlights?id=76049 Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of foreign liquor in Chhattisgarh, contested the disallowance. - Referring to the judgment of the Hon’ble Supreme Court in the case of Kerala State Beverages Manufacturing & Marketing Corporation Ltd., the Tribunal held that surcharge on sales tax, including VAT, does not fall within the scope of disallowance under Section 40(a)(iib) of the Income-tax Act, 1961. en-us Tue, 26 Mar 2024 07:52:41 +0530 Sun, 24 Mar 2024 13:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76049 Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of foreign liquor in Chhattisgarh, contested the disallowance. - Referring to the judgment of the Hon’ble Supreme Court in the case of Kerala State Beverages Manufacturing & Marketing Corporation Ltd., the Tribunal held that surcharge on sales tax, including VAT, does not fall within the scope of disallowance under Section 40(a)(iib) of the Income-tax Act, 1961. Highlights Income Tax Tue, 26 Mar 2024 07:52:41 +0530 https://www.taxtmi.com/highlights?id=76049