No Income Tax payable on Amount of Profit Transferred u/s 29(2)of SIDBI Act: Supreme Court Grants Leave [Read Order]

Supreme Court in the case of Small Industries Development Bank of India (SIDBI) allowed the special leave petition

By Yogitha S. Yogesh - On December 12, 2023 6:00 pm - 2 mins read

Income Tax payable - Amount of Profit - Profit Transferred - Profit - Supreme Court - Grants Leave - TAXSCAN

The Supreme Court of India has granted leave in the case that arose out of the impugned final judgment and order date passed by the High Court Of Judicature At Bombay wherein it held that Income Tax is payable on the amount of profit transferred under section 29(2)of the Small Industries Developments Bank of India…

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