Section 80IA

Deductions U/s 80IA coming to an end in respect of certain incomes

Income Tax - This article attempts to briefs about the deductions U/s 80IA which is coming to end for certain categories of enterprises in respect of certain incomes. (a) Developing Roads etc. :  The eligible enterprise should commence business between 01.04.1995 and 31.03.2017.  100% of profit for any 10 consecutive assessment years in a block of 2...

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Power Sector- Deduction under section 80IA of Income Tax Act

Income Tax - Deductions in respect of profits and gains from undertakings or enterprises engaged in, Power undertakings etc. [Section 80-IA]...

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Deduction Under Section 80IA/80IB – Case Laws – Assessment

Income Tax - Deduction in respect of profits and gains from certain industrial undertakings - Sections 80IA/80IB.The phrase “Derived from” has been a very contentious issue while applying the provisions of Sections 80IA and 80IB of the Act and other similar provisions contain same phrase. The issue revolves around the contention whether deduction ...

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Incentive Deduction U/s 80-I of Income Tax Act, 1961

Income Tax - Incentive Deduction U/s 80-I of the I.T. Act - A Typical Example Of What One Arm Of The Government Gives, The Other Takes Away- S.80-HH grants incentive to the tax-payer for establishing an industrial undertaking (I.U., for short) or a hotel in backward areas. S.80-HHA grants similar incentive for establishing small scale I.U. in certain ...

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I-T Dept releases Book on Controversies in Income Tax Assessment

Income Tax - The genesis of this book is an exercise carried out to compile best quality assessment orders passed in each Chief C.I.T region of Gujarat during the Financial Year 2011-12. On analyzing these orders it emerged that majority of additions were relatable to issues pertaining to 19 topics. Therefore it was decided to constitute  an expert [...

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Tax SOPS for Industrial Parks

Income Tax - Section 80-IA [4 (iii)] of the Income Tax Act, 1961 provides for a tax holiday for 10 out of 15 years in respect of profits of any undertaking which develops, develops and operates or maintains and operates an industrial park or special economic zone....

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Industrial Park Scheme Eligible for Deduction Under Section 80IA of I-T ACT Extended to 31st March 2011

Income Tax - The Central Board of Direct Taxes (CBDT) has amended the Industrial Park Scheme 2008 and Rule 18C of the Income Tax Rules, 1962 to give effect to the extension of the ending date of operation of the Scheme to 31st March 2011....

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Non tax breaks U/s. 80IA for telecom companies offering 3G services

Income Tax - The Government has decided that telecom companies offering 3G services will not be allowed to claim tax breaks under Section 80 IA of the Income Tax Act. Benefits under Section 80 IA are extended to companies involved in infrastructure creation. In the telecom sector, existing operators are allowed to choose a block of 10 years (out of t...

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Manufacture of herbal product from herbs, manually and with use of small machinery, eligible for deduction u/s 80IA

CIT Vs M/s. Cavinkare Private Limited (Madras High Court) - Deduction u/s 80IA eligible when herbal product is manufactured from herbs, manually and with the use of some chemicals and small machinery....

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ITAT on section 80-IA(4) deduction claimed by filing revised return

Sharp Designers and Engineers India Pvt. Ltd. Vs ACIT (ITAT Pune) - Assessee’s case with both original and revised returns filed in time was placed in a better position, therefore, deduction under section 80-IA was allowable, despite the same was claimed through filing of revised return....

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Deduction U/s. 80-IA Claimed through return filed U/s. 153A instead of revised return cannot be denied

Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court) - Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court) Since the time limit for filing the revised return had not expired during the relevant year, therefore, claim for deduction under section 80-IA if not made earlier could have been made in the revised return. Once it could have been claimed...

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Deduction u/s 80IA can be claimed without excluding Deduction u/s 80HHC

M/s. Indian Gum Industries Ltd. Vs  JCIT (Bombay High Court) - Parliament did not seek to disturb and / or affect cases where deduction is taken twice over i.e. under Section 80IA and 80HHC of the Act on the same profit, provided it was less than the gross total income as defined in Section 80IB(5) of the Act....

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ITAT explains difference between “derived from the undertaking” and “derived from the business of the undertaking”

M/s. Tema Exchangers Manufactures Pvt. Ltd. Vs The Asstt. (Bombay High Court) - Court held that interest on fixed deposits in the bank would be profits and gains derived from any business of an industrial undertaking. The same reasoning would apply to extend deductions under Section 80IA of the Act for the compensation received for non supply of spare parts. T...

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List of Notified Industrial Parks from 16-9-2010 till date -Section 80-IA(4)(iii) of the Income-tax Act, 1961

Income Tax Press release - (14/12/2010) - Section 80-IA(4)(iii) of the Income-tax Act, 1961 - Deductions - Profits and gains from Industrial Infrastructure Undertakings, etc. - List of notified Industrial Parks from 16-9-2010 till date...

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Notification No. 78/2010-Income Tax Dated 11/10/2010

Notification No. 78/2010-Income Tax - (11/10/2010) - Notification No. 78/2010-Income Tax [F.No.178/100/2008-ITA-I], dated 11-10-2010 Government hereby notifies M/s. Marathon Nextgen Realty Limited, Mumbai as an undertaking and the project at Marathon Nextgen Innova IT Building, (Building No.7), Survey No. CS No. 2/142, Opp. Peninsula Corporate Park O...

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Notification No. 73/2010-Income Tax Dated 22/9/2010

Notification No. 73/2010-Income Tax - (22/09/2010) - Notification No. 73/2010-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the ...

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Notification No. 66-Income Tax Dated 28/7/2010

Notification No. 66/2010-Income Tax - (28/07/2010) - Notification No. 66/2010-Income Tax in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act read with rule 18C of the Income Tax Rules, 1962, the Central Government hereby notifies M/s. DLF Cyber City Developers Limited as an undertaking and the projec...

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Section 80-IA- Notified undertaking of M/s. Infinity Infotech Parks Limited

Notification No. 54/2010-Income Tax - (15/07/2010) - Notification No. 54/2010-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, vide n...

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Recent Posts in "Section 80IA"

Deductions U/s 80IA coming to an end in respect of certain incomes

This article attempts to briefs about the deductions U/s 80IA which is coming to end for certain categories of enterprises in respect of certain incomes. (a) Developing Roads etc. :  The eligible enterprise should commence business between 01.04.1995 and 31.03.2017.  100% of profit for any 10 consecutive assessment years in a block of 2...

Read More
Posted Under: Income Tax |

Manufacture of herbal product from herbs, manually and with use of small machinery, eligible for deduction u/s 80IA

CIT Vs M/s. Cavinkare Private Limited (Madras High Court)

Deduction u/s 80IA eligible when herbal product is manufactured from herbs, manually and with the use of some chemicals and small machinery....

Read More

ITAT on section 80-IA(4) deduction claimed by filing revised return

Sharp Designers and Engineers India Pvt. Ltd. Vs ACIT (ITAT Pune)

Assessee’s case with both original and revised returns filed in time was placed in a better position, therefore, deduction under section 80-IA was allowable, despite the same was claimed through filing of revised return....

Read More

Deduction U/s. 80-IA Claimed through return filed U/s. 153A instead of revised return cannot be denied

Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court)

Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court) Since the time limit for filing the revised return had not expired during the relevant year, therefore, claim for deduction under section 80-IA if not made earlier could have been made in the revised return. Once it could have been claimed in the revised return under […]...

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Power Sector- Deduction under section 80IA of Income Tax Act

Deductions in respect of profits and gains from undertakings or enterprises engaged in, Power undertakings etc. [Section 80-IA]...

Read More
Posted Under: Income Tax |

Deduction u/s 80IA can be claimed without excluding Deduction u/s 80HHC

M/s. Indian Gum Industries Ltd. Vs  JCIT (Bombay High Court)

Parliament did not seek to disturb and / or affect cases where deduction is taken twice over i.e. under Section 80IA and 80HHC of the Act on the same profit, provided it was less than the gross total income as defined in Section 80IB(5) of the Act....

Read More

ITAT explains difference between “derived from the undertaking” and “derived from the business of the undertaking”

M/s. Tema Exchangers Manufactures Pvt. Ltd. Vs The Asstt. (Bombay High Court)

Court held that interest on fixed deposits in the bank would be profits and gains derived from any business of an industrial undertaking. The same reasoning would apply to extend deductions under Section 80IA of the Act for the compensation received for non supply of spare parts. T...

Read More

Deduction Under Section 80IA/80IB – Case Laws – Assessment

Deduction in respect of profits and gains from certain industrial undertakings - Sections 80IA/80IB.The phrase “Derived from” has been a very contentious issue while applying the provisions of Sections 80IA and 80IB of the Act and other similar provisions contain same phrase. The issue revolves around the contention whether deduction ...

Read More
Posted Under: Income Tax |

Filing of return before due date is Mandatory to claim deduction u/s 80IA

Smt. Revathi Raju Vs The Income Tax Officer (ITAT Bangalore)

The AO was of the view that as per the provision of section 80AC of the Act any deduction under Chapter-VI A of the Act (Sec. 80IA of the Act is part of Chapter VIA of the Act) can be claimed only if the return of income for the relevant assessment year is filed on or before the due date prescribed u/s 139(1) of the Act. Since the assesse...

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SC on inclusion of years of deduction claimed earlier U/s. 80-IA & 80-IB for calculation of 10 Year period for deduction U/s. 80-IC

Mahabir Industries Vs. PCIT (Supreme High Court)

Mahabir Industries Vs. PCIT (Supreme High Court) The assessee in the instant case has not got deduction under Section 80-IC for a period of ten years as he started claiming deduction under this provision w.e.f. Assessment Year 2006-07. Situation Nos. (b) and (c) mentioned above would not apply to the assessee as it’s undertaking/enterpr...

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