The United Cycle and Parts Manufacturers’ Association had filed a writ petition against the amendment of Section 43 B of the Income Tax Act, the first hearing of which would be held at the Supreme Court on April 19. CJI DY Chandrachud will be hearing the case. - File photo
Ludhiana, April 16
The United Cycle and Parts Manufacturers’ Association had filed a writ petition against the amendment of Section 43 B of the Income Tax Act, the first hearing of which would be held at the Supreme Court on April 19. CJI DY Chandrachud will be hearing the case.
Rajiv Jain from UCPMA said, “We have challenged this amendment on grounds of Article 14, as only medium and large business units are able to offer credit which will impact the fundamental rights of small and micro units. Further, the amendment restricts the right to do business, under the Article 19 (1) (g), as it limits the right to contract as provided under the Indian Contract Act,” said Jain.
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