ITAT allows Deduction to Bajaj Electricals on Education Cess [Read Order]
![ITAT allows Deduction to Bajaj Electricals on Education Cess [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/ITAT-Bajaj-Electricals-education-cess-Taxscan.jpg "ITAT allows Deduction to Bajaj Electricals on Education Cess [Read Order]")
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench allowed deduction to Bajaj Electricals in respect of education cess. The assessee, Bajaj Electricals claimed the deduction on account of education cess paid by the assessee which was dismissed by the Tribunal while passing its order as not an allowable expenditure. The assessee submitted that in view of the recent...
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench allowed deduction to Bajaj Electricals in respect of education cess.
The assessee, Bajaj Electricals claimed the deduction on account of education cess paid by the assessee which was dismissed by the Tribunal while passing its order as not an allowable expenditure.
The assessee submitted that in view of the recent decision of the High Court in the case of Sesa Goa Ltd. vs. JCIT wherein it was held that education cess paid by the assessee would be entitled for deduction.
It was further pointed out that subsequent decisions of the High Court on a particular issue would become the basis for rectification of an order passed by the Tribunal earlier under section 254(2) of the Act.
The coram consisting of Mahavir Singh and M. Blaganesh held that the assessee would be entitled for deduction in respect of education cess and directed the AO to grant deduction for the same for AY 2008-09 also.
To Read the full text of the Order CLICK HERE
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