No power on Income Tax Authority to Dissect Indivisible Contract on absence of Legal Provision: Allahabad HC [Read Order]

The Allahabad High Court has held that an otherwise indivisible contract cannot be dissected by the authorities under the Income Tax Act, in absence of any legal provision for such dissection
By Kalyani B. Nair - On December 2, 2023 9:00 pm - 2 mins read
Income Tax Authority - Legal Provision - Dissect Indivisible Contract - Indivisible Contract on Legal Provision - Income Tax - taxscan

The Allahabad High Court recently observed that there is no power vested with the income tax authority to dissect indivisible contract on the absence of a legal provision. To set up that thermal power plant, the assessee entered into two sets of contracts. First, with Bharat Heavy Electric Ltd. (ā€œBHELā€) to set up a Boiler…

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