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Section 10A

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Period of limitation prescribed under Income-tax Act, 1961

Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...

November 3, 2023 1725 Views 1 comment Print

Sunset date for claiming Income Tax exemption for SEZs – Extension Needed

Income Tax : Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA...

June 5, 2020 23172 Views 3 comments Print

For section 10A, total turnover is sum of export & domestic turnover

Income Tax : Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertaki...

January 5, 2020 10812 Views 1 comment Print

Exemption Under Special Provisions – Sections 10A/10AA/10B

Income Tax : Article discusses Exemption Under Special Provisions of Sections 10A, Section 10AA and Section 10B of Income Tax Act, 1961. A. Sec...

August 25, 2018 429798 Views 3 comments Print

Benefits To SEZ Entities Under The Income Tax Law

Income Tax : An entrepreneur, who begins to manufacture or produce articles or things or provide any services during the period beginning from ...

January 24, 2018 57084 Views 2 comments Print


Latest News


Role of IT Sector is Crucial to Promote E-Governance – FM

Income Tax : FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainabl...

January 14, 2015 4779 Views 0 comment Print

Infosys plans to appeal against arbitrary order, Industry Surprised by order

Income Tax : Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion ...

January 19, 2011 411 Views 0 comment Print


Deduction u/s 10AA duly available to interest income earned from FD

June 6, 2023 4662 Views 0 comment Print

ITAT Mumbai held that interest income earned by the assessee on account of surplus funds placed in FD is eligible for deduction under section 10AA of the Income Tax Act.

Depreciation u/s 32 allowable only when asset is put to use for business purpose

June 5, 2023 5139 Views 0 comment Print

ITAT Bangalore held that depreciation under section 32 of the Income Tax Act is allowable only when the asset is put to use for the business purpose. Notably, the onus is on the assessee to prove that the assets are put to use for the business purposes only.

Deduction u/s 80HHE is allowed against gross total income

April 27, 2023 777 Views 0 comment Print

ITAT Mumbai held that deduction under section 80HHE of the Income Tax Act is allowed against the gross total income.

Petition u/s. 7 of IBC duly admissible on existence of ‘debt’ and ‘default’

March 24, 2023 3063 Views 0 comment Print

NCLT Mumbai held that petition under section 7 of Insolvency and Bankruptcy Code (IBC) duly admissible, as two essential qualification i.e. ‘debt’ and ‘default’ existed.

Deduction u/s 10A allowed based on post facto extension

February 10, 2023 654 Views 0 comment Print

ITAT Bangalore held that deduction under section 10A/ 10B of the Income Tax Act allowable as the assessee has obtained post facto approval from RBI coupled with the fact that it has also realized the said amounts.

Assessment order passed in the name of non-existent entity is invalid

January 18, 2023 1788 Views 0 comment Print

ITAT Delhi held that assessment order passed in the name of non-existent entity is equivalent to passing an order in the name of dead person, hence, is invalid.

Addition of SEZ book profits while computing book profits u/s 115JB is unsustainable

January 18, 2023 912 Views 0 comment Print

ITAT Bangalore held that addition of Special Economic Zone books profits while computing books profits under section 115JB of the Income Tax Act is unsustainable in law in terms of Special Bench of Delhi Tribunal decision in the case of ACIT vs. Vireet Investment (P) Ltd.

ITAT allows section 10A Deduction on Income From Design Charges

January 2, 2023 459 Views 0 comment Print

Appellant has been able to establish that income by way of Design Charges are in the nature of business income as the same are inherently connected with the business of export of jewellery undertaken by Unit-II of the Appellant, and therefore, the same must be included in business income for the purpose of computing deduction under Section 10A of the Act.

Exemption u/s 10A of the Income Tax Act not available when return is filed belatedly

December 7, 2022 2532 Views 0 comment Print

ITAT Chennai held that return of income has to be filed as per section 139 of the Income Tax Act for claiming benefit under section 10A. Exemption under section 10A is not available in case the return is filed belatedly.

Incidental Interest Income eligible For section 10A Deduction

October 25, 2022 672 Views 0 comment Print

Whether ITAT erred in law in deleting addition as Income from Other Sources and holding it eligible for calculation of deduction under Sections 10A and 10B of Income Tax Act, 1961?