Supreme Court · 2020 INSC 350 · Decided 24 April 2020
Union of India & ORS. v. Exide Industries Limited & ANR.
- Court
- Supreme Court of India
- Citation
- 2020 INSC 350 · [2020] 7 S.C.R. 1
- Case number
- CIVIL APPEAL No. 3545/2009
- Decided
- 24 April 2020
- Bench
- A.M. KHANWILKAR, HEMANT GUPTA, DINESH MAHESHWARI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 13; Income Tax Act Section 43B(f)
Headnote
Income Tax Act, 1961: s. 43B(f) (as inserted by Finance Act, 2001) - Liability under leave encashment scheme - Subjected to exception u/s. 43B by inserting Clause (f) to s. 43B - Constitutional validity of - Held: s.43B is not an embargo upon the autonomy of a particular method of accounting, nor deprives the assessee of any lawful deduction - It merely operates as an additional condition for the availment of deduction qua the specified head - The only effect of insertion of clause (f) is to regulate the stated deduction by putting it
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