|
| Exchange Received Time 03/04/2018 22:15:53 Exchange Disseminated Time 03/04/2018 22:15:57 Time Taken 00:00:04 | This is in continuation of our earlier communication dated September 1, 2017, wherein we had informed that in an appeal filed by the Income Tax Department (Department) before the Hon'ble High Court of Delhi (the Court) against ITAT's order dated July 26, 2004 allowing claim of deduction of Rs. 15.76 crores by the Company under section 80HHE of Income Tax Act, 1961 for Assessment Year 1999-2000, the Court, vide its order dated August 31, 2017, had upheld the decision of the ITAT, allowing the deduction which had been rejected by the Department.
The Department had filed a Special Leave Petition before the Hon'ble Supreme Court and we are pleased to inform that the Hon'ble Supreme Court has dismissed the Petition filed by the Department and held the decision in our favour. The Company had claimed deduction in respect of profits from export of news software to STAR TV. That deduction now stands as valid.
|
|
|