Supreme Court · 2015 INSC 416 · Decided 14 May 2015
Joshi Technologies International INC. v. Union of India & ORS.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 416 · [2015] 6 S.C.R. 1042
- Case number
- CIVIL APPEAL No. 6929/2012
- Decided
- 14 May 2015
- Bench
- A.K. SIKRI, R.F. NARIMAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226, 32; Income Tax Act Section 42
Headnote
1042 A JOSHI TECHNOLOGIES INTERNATIONAL INC. B c v. UNION OF INDIA & ORS. (Civil Appeal No. 6929 of 2012) MAY 14, 2015 [A. K. SIKRI AND R. F. NARIMAN, JJ] Income Tax Act, 1961: s.42 - Deduction - If Production Sharing Contract (PSC) between the government and the assessee does not contain as without it, such deductions are not permissible under the Act - When benefit of deduction u/s.42 was wrongly granted in initial years of commencement of commercial production in the oil fields, it would not amount to a wrong E act on part of income tax authorities and would not enure to the
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