Amendment of section 80GGB.
17. In section 80GGB of the Income-tax Act, before the Explanation, the following proviso shall be inserted with effect from the 1st day of April, 2014, namely:—
\"Provided that no deduction shall be allowed under this section in respect of any sum contributed by way of cash.\".
© Copyright. Taxmann Publications Pvt. Ltd.
","words":57,"text_source":"published"},"classification":[],"instruments":[],"judgments":[{"cnr":"SCIN010210772020","order":"order-8.pdf","title":"Assistant Commissioner of Income Tax Circle 1(1) vs Kerala State Beverages (manufacturing and Marketing) Corporation Limited","court":"SC","court_name":"Supreme Court of India","date":"2022-01-03","citation":null,"precedential_value":"Binding (SC)","court_marking":"reportable","ratio_decidendi":"The term 'exclusively' in Section 40(a)(iib) of the Income Tax Act, 1961 must be interpreted based on the nature of the undertaking on which the levy is imposed and not on the number of undertakings on which the levy is imposed. Gallonage fees, licence fees, and shop rental paid by a State Government Undertaking for licences fall within Section 40(a)(iib) and are non-deductible. However, surcharge on sales tax and turnover tax, being taxes and not fees or charges, fall outside the scope of Section 40(a)(iib) and remain deductible. The distinction between 'fee' and 'tax' carefully maintained throughout Section 40 must be preserved.","applied_to_this_section":"Amendment introducing Section 40(a)(iib) effective from 01.04.2014 to prevent profit-shifting from State Government Undertakings to State treasuries","basis":"cited","decided_under":null,"url":"https://ecourtsindia.com/cnr/SCIN010210772020/order-8"}],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2013/section/17/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}