80IA Deduction on ‘Other Sources’ Income Only if Nexus With Industrial Undertaking Proven: ITAT Bangalore

Advertisement ACIT Vs Golflinks Software Park Private Limited (ITAT Bangalore) 80IA Deduction on ‘Other Sources’ Income? First Prove Nexus With Industrial Undertaking, Says Bangalore ITAT In an important ruling on section 80IA deductions, the Bangalore ITAT held that while an assessee can raise a fresh deduction claim before the CIT(A) even if not claimed in the return or before the AO, the appellate authority must still examine whether the income actually satisfies the statutory requirement of being “derived from” the eligible industrial undertaking. The assessee, Golflinks Softwar...