(Sanjiv Khanna and M.M. Sundresh, JJ.)
Joint Commissioner of Income Tax-2, Kota ____________ Appellant;
v.
Chambal Fertilisers & Chemicals Limited ______________ Respondent.
Civil Appeal No. of 2022 (@SLP(C) No. 7379 of 2019), decided on December 14, 2022
The Order of the court was delivered by
Order
1. Leave granted.
2. Learned senior advocate appearing on behalf of the respondent-assessee states that in view of the amendment vide the Finance Act, 2022 with retrospective effect from 01.04.2005 to Section 40(a)(ii) of the Income Tax Act, 1961, the present appeal has to be allowed.
3. In view of the statement made, we direct that the Education cess paid by the respondent-assessee would not be allowed as an expenditure under Section 37 read with 40(a)(ii) of the Income Tax Act, 1961.
4. Learned senior advocate appearing on behalf of the respondent-assessee states that they have also paid the applicable tax on the disallowance.
5. Recording the above, the appeal is allowed in the aforesaid terms, without any order as to costs.
6. Pending application(s), if any, shall stand disposed of.
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