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Supreme Court of India

Union of India & Ors. v. Exide Industries Limited & Anr.

Neutral citation
Reported as [2020] 7 S.C.R. 1
Bench A. M. Khanwilkar, Hemant Gupta and Dinesh Maheshw Ari JJ.
Decided 24 April 2020

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

From the headnote

Income Tax Act, 1961: s. 43B(f) (as inserted by Finance Act, 2001) – Liability unde r leave encashment scheme – Subjected to exception u/ s. 43B by inserting Clause (f) to s. 43B – Constitutional validi ty of – Held: s.43B is not an embargo upon the autonomy of the as sessee in adopting a particular method of accounting, nor dep rives the assessee of any lawful deduction – It merely operat es as an additional condition for the availment of deduction qua the specif ied head – The only effect of insertion of clause (f) is to regulate the stated deduction by putting it in a special provision –

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