SC dismisses SLP – Disallowance of reimbursement of expenses to agents U/s. 40(a)(ia)

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SUPREME COURT OF INDIA

COMMISSIONER OF INCOME TAX

vs.

GUJARAT NARMADA VALLEY FERTILIZERS CO LTD

Date of Pronouncement – 17th January, 2014

ANIL R. DAVE & JAGDISH SINGH KHEHAR,

JJ. TA No.315/2013 (CC 175/2014)

Counsel appeared

R.P. Bhatt, D.L. Chidananda, Purnima Bhat, Anil Katiyar, Advs. for the Petitioner

Supreme Court (SC) dismisses Special Leave Petition (SLP) in the case of  CIT Vs.Gujarat Narmada Valley Fertilizers  Company Limited filed against the decision of the Gujarat High Court which upheld the order of the Income Tax Appellate Tribunal holding that the disallowance under section 40(a)(ia) of the Income Tax Act, 1961 is not justified on reimbursement of expenses to C&F and consignment agents.