VAT Payment would not amount to Fee u/s 40(a)(iib) of Income Tax Act: ITAT [Read Order]

VAT - Payment - Income - Tax - Act - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Chennai Bench recently in an appeal held that Value Adedd Tax payment would not amount to Fee under section40 (a) (iib) of Income Tax Act 1961. AssesseeTamilnadu State Marketing Corporation Ltd is a State owned undertaking engaged in trading and retail vending in liquor. In the year 2014-2015, After…

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