Supreme Court allows deduction on advance excise duty payments: Commissioner of Income Tax II vs. M/S Modipon Ltd. (24 November 2017)

/ Central Excise Act, Central Excise Rules, 1944 with Rule 173G, Income Tax Act, 1961, Income Tax Act, 1961 with Section 43B, Judges, Navin Sinha, Ranjan Gogoi, Tax Deductions

Date of the Judgment: 24 November 2017 Citation: (2017) INSC 1003 Judges: Ranjan Gogoi, J. and Navin Sinha, J. Can a company claim a tax deduction for excise duty paid in advance into a Personal Ledger Account (PLA), even if the duty is only adjusted against actual clearances later? The Supreme Court of India addressed […]

Supreme Court allows deduction on advance excise duty payments: Commissioner of Income Tax II vs. M/S Modipon Ltd. (24 November 2017) Read Post »