C.I.T. vs M/s Yokogawa India Ltd. - Supreme Court

 C.I.T. & Anr. vs M/s Yokogawa India Ltd. - Supreme Court Important Judgment 2016 - 

On 16th December, 2016, in the case of C.I.T. & Anr. vs M/s Yokogawa India Ltd. [Civil Appeal No.8498 of 2013], it was held that though Section 10A of the Income Tax Act, 1961, as amended, is a provision for deduction, the stage of deduction would be while computing the gross total income of the eligible undertaking under Chapter IV of the Act and not at the stage of computation of the total income under Chapter VI. The Bench observed that the introduction of the word ‘deduction’ in Section 10A by the amendment, and the scope of the deductions contemplated by Section 10A indicate that “the Section embodies a clear enunciation of the legislative decision to alter its nature from one providing for exemption to one providing for deductions.”

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