De-notification of Backward Area Precludes Section 80HH Deduction As Promissory Estoppel Cannot Override Statutory Amendments
De-notification of Backward Area Precludes Section 80HH Deduction As Promissory Estoppel Cannot Override Statutory Amendments Issue Whether an industrial undertaking can claim deduction under Section 80HH on the grounds of promissory estoppel or hardship when the area of operation was retrospectively de-notified as a backward area under the Eighth Schedule of the Income-tax Act, 1961.… Read More »