Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA...
Income Tax : Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertaki...
Income Tax : Article discusses Exemption Under Special Provisions of Sections 10A, Section 10AA and Section 10B of Income Tax Act, 1961. A. Sec...
Income Tax : An entrepreneur, who begins to manufacture or produce articles or things or provide any services during the period beginning from ...
Income Tax : FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainabl...
Income Tax : Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion ...
Goods and Services Tax : Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the a...
Income Tax : ITAT Mumbai held that the expenses excluded from the export turnover have to be excluded from the total turnover as well while com...
Income Tax : ITAT Bangalore rules deduction under Section 80P of Income Tax Act requires filing of return of income, dismissing Madhu Souharda ...
Goods and Services Tax : Bombay High Court held that an agreement for providing manpower to perform maintenance services is not a contract of sale but is a...
Income Tax : Karnataka High Court held that reassessment proceedings cannot be in the nature of review and accordingly, the material as has com...
Income Tax : As per section 10A(4) of Income Tax Act, 1961, profits derived from export of articles or things or computer software shall be amo...
Income Tax : Circular No. 14/2014-Income Tax CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere transfer or re-dep...
Income Tax : Circular No. 12/2014-Income Tax Section 10AA of the Income-tax Act, 1961, inter-alia, provides for deduction in respect of the pr...
Income Tax : A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disp...
Income Tax : A clarificatory Circular No. 01/2013, dated 17-1-2013 (hereinafter referred to as 'Circular') was issued by CBDT to address variou...
ITAT Mumbai held that initiation of revisionary proceedings u/s 263 of the Income Tax Act justified as assessment order was passed by AO without proper inquiry and verification with regard to claim of deduction u/s. 80IA(4).
Delhi High Court’s interpretation of Section 10A(5) of the Income Tax Act regarding eligibility for deduction when audit report is filed before assessment.
Read about ITAT Mumbai’s decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation.
ITAT Ahmedabad held that tax deduction at source doesn’t apply to service which are neither availed nor rendered and not even utilized in India. Accordingly, disallowance u/s 40(a)(ia) unjustified.
NCLAT Chennai held that suspension of initiation of CIRP (Corporate Insolvency Resolution Process) as per provisions of section 10A of the Insolvency and Bankruptcy Code, 2016 applies to date of default i.e. 31.03.2020.
ITAT Mumbai held that adjustment of notional interest for extended credit period to the associated enterprises unsustainable as assessee extended credit period to its non-associated enterprises without charging any interest.
ITAT Mumbai held that activities of import of goods for re-export (i.e. trading activities) falls within the meaning of service defined u/s 2(z) of SEZ Act and accordingly the profits and gains derived from such services rendered from SEZ would be eligible for deduction u/s. 10AA of the Income Tax Act.
ITAT Mumbai held that TPO was correct in concluding that the rate at which loan is taken by the Appellant cannot be taken as internal CUP to benchmark the loan given by the Appellant to its AE as there is a difference in credit rating of the Appellant and its AE.
ITAT Mumbai held that penalty u/s 271(1)(c) not leviable as mere making of a claim which is not sustainable in law by itself will not amount to furnishing of inaccurate particulars of income.
ITAT Bangalore held that the interest income received on temporary Fixed Deposits is eligible for exemption under section 10AA of the Income Tax Act.
