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Delhi HC upholds ICDS validity but strikes down key provisions

The ICDS is not meant to overrule the provisions of the (Income Tax) Act: HC

law, court, insolvency
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Ashley CoutinhoIndivjal Dhasmana Mumbai & New Delhi
The Delhi High Court has upheld the constitutional validity of the Income Computation and Disclosure Standards (ICDS), but only to the extent that they do not go against judicial pronouncements and the provisions of the Income-Tax (I-T) Act.

These standards played a key role in improving India’s position in the World Bank’s ease of doing business rankings, released recently.

“The ICDS is not meant to overrule the provisions of the (Income Tax) Act, the rules thereunder, and the judicial precedents applicable thereto as they stand,” said the court on Wednesday, striking down the ICDS provisions that went against judicial pronouncements and the

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