Supreme Court directs Madras High Court to decide on validity of Section 40(a)(iib) of Income Tax Act

High Court in exercise of its powers under Article 226 of the Constitution should have decided the issue or merits, the Supreme Court said.
Supreme Court directs Madras High Court to decide on validity of Section 40(a)(iib) of Income Tax Act
MR Shah, Ashok Bhushan, V Ramasubramanian

The Supreme Court, on Wednesday, ordered the Madras High Court to decide the Constitutional validity of Section 40(a)(iib) of the Income Tax Act, 1961 which disallows deduction of royalty, license fees etc in case of State government undertakings under the head of profits and gains of business.

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