Advocate Sushila
SUPREME COURT HOLDS NOT EVERY INCOME FROM FOREIGN ENTITIES FALLS WITHIN THE AMBIT OF SECTION 80-O OF INCOME TAX ACT 1961

SUPREME COURT HOLDS NOT EVERY INCOME FROM FOREIGN ENTITIES FALLS WITHIN THE AMBIT OF SECTION 80-O OF INCOME TAX ACT 1961

A Bench of the #SupremeCourt of India comprising of Justices A.M. Khanwilkar, Dinesh Maheshwari, and Sanjiv Khanna, has recently decided the case of Ramnath And Co. v. The Commissioner Of Income Tax, Civil Appeal Nos. 2506/2509 of 2020, vide Judgment dated 05.06.2020, arising out of SLP(C) Nos. 23535 23538 of 2016, upholding the Judgment dated 09.06.2016 of the High Court of #Kerala at Ernakulam (‘High Court’), in an Appeal arising out of an Order of the #IncomeTax Appellate Tribunal (‘ITAT’).


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2020/06/06/supreme-court-holds-not-every-income-from-foreign-entities-falls-within-the-ambit-of-section-80-o-of-income-tax-act-1961/


#incometax #foreignexchange #supremecourt

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