The decisions of the Bombay and Rajasthan High Courts in Sesa Goa and in Chambal Fertilizers respectively have sparked a new polemic in tax law with reference to deductibility of education cess as business expenditure. The judgments effectively tend to reduce the size of the education cess pie, which was levied as a public policy imperative to finance educational requirements of the underprivileged.The decisions of the Bombay and Rajasthan High Courts in Sesa Goa and in Chambal Fertilizers respectively have sparked a new polemic in tax law with reference to deductibility of education cess as business expenditure. The judgments effectively tend to reduce the size of the education cess pie, which was levied as a public policy imperative to finance educational requirements of the underprivileged.taxmann.com Latest ArticlesRead More
