Section 80IA

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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S. 80IA for the power sector – Extension of sunset date to 31.03.2014

Income Tax - Extension of the sunset date under section 80IA for the power sector Under the existing provisions contained in the clause (iv) of subsection (4) of section 80IA, a deduction of profits and gains is allowed to an undertaking which, – (a)   is set up in any part of India for the generation or generation and […]...

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Income Tax deductions for A.Y. 2013-14 / FY 2012-13

Income Tax - DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, DEFERRED ANNUITY, CONTRIBUTIONS TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES OR DEBENTURES, ETC. [SEC. 80C, APPLICABLE FROM THE ASSESSMENT YEAR 2006-07] - SECTION 80C 1. Under section 80C, deduction would be available from gross total income. 2. Only an individual or a Hindu und...

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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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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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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 ...

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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 th...

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Deduction U/s. 80IA not available on interest on FDR by a company engaged in providing infrastructure facilities

DCIT Vs. SMS Paryavaran (P) Ltd. (ITAT Delhi) - The assessee company was engaged in the business of Developing, Maintaining and Operating of Infrastructure Facilities. Return declaring an income of Rs. 29,53,100/- was filed on 30/09/2009. The same was processed u/s 143(1) on 13/09/2010. Case was selected for scrutiny under CASS and notice u/s 1...

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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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Section 80IA’s Popular Posts

Recent Posts in "Section 80IA"

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...

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 ...

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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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Deduction U/s. 80IA not available on interest on FDR by a company engaged in providing infrastructure facilities

DCIT Vs. SMS Paryavaran (P) Ltd. (ITAT Delhi)

The assessee company was engaged in the business of Developing, Maintaining and Operating of Infrastructure Facilities. Return declaring an income of Rs. 29,53,100/- was filed on 30/09/2009. The same was processed u/s 143(1) on 13/09/2010. Case was selected for scrutiny under CASS and notice u/s 143(2) was sent on 20/08/2010. ...

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Deduction U/s. 80-IA(4) cannot be denied merely because assessee was paid by Government for development work

Adhunik Infrastructure (P)Ltd. Vs J.C.I.T (ITAT Kolkata)

Adhunik Infrastructure (P)Ltd. Vs JCIT (ITAT Kolkata) ITAT held that even if an assessee is merely developing the infrastructural facility (without operating and maintaining the same), it is entitled to deduction u/s 80-1A. Further, condition (b) laid out in sub-section (4) of section 80-IA mandates the existence of an agreement with the ...

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Deduction U/s. 80IA not eligible to contractor on Income from maintenance work of Electricity Company

M/s. Covanta Samalpatti Operating Private Limited Vs ACIT (Madras High Court)

This appeal by the assessee is directed against the order passed by the Income Tax Appellate Tribunal in ITA.No.1496/Mds/2005 dated 19.12.2007 for the assessment year 2002-03. The above tax case appeal has been admitted on the following substantial questions of law...

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Deduction U/s. 80-IA allowable on amount disallowed U/s. 43B

Dy. CIT Vs TA Infra Projects Ltd. (ITAT Hyderabad)

As amount disallowed under section 43B would become profits of business in the computation of income under the head "Profits and gains of business or profession". Consequently, if the amounts disallowed were pertaining to the projects on which the claim under section 80-IA was made, the same had to be allowed as profits get increased to t...

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Depreciation was to be reduced to arrive at profits eligible for deduction U/s. 80-IA

Plastiblends India Ltd. Vs Addl. CIT (Supreme Court of India)

Plastiblends India Ltd. Vs Addl. CIT (Supreme Court of India) Section 80-IA is a code by itself, it contains the provision for special deduction which is linked to profits. In contrast, Chapter IV of the Act, which allows depreciation under Section 32 of the Act is linked to investment. This Court has also made it […]...

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