Section 80IA judiciary-2

AO cannot dispute profitability of eligible unit If not disputed ALP of transactions covered u/s 80IA(8)

DCIT Vs Century Plyboards (I) Ltd. (ITAT Kolkata)

Disallowance under section 14A read with rule 8D could not exceed tax free income earned by assessee. Therefore, AO was directed to restrict disallowance made on account of the common administrative expenses to the amount of exempt dividend income actually earned by the assessee during the year under consideration....

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Lease rent from modules of STP is business income eligible for Section 80IA deduction

CIT Vs Rishabh Infopark Pvt. Ltd. (Madras High Court)

CIT Vs Rishabh Infopark Pvt. Ltd. (Madras High Court) The only issue in the appeals of the Revenue is that the Income Tax Appellate Tribunal erred in holding that the lease rent income received from letting out modules of Software Technology park to various lessees would constitute income from business and eligible for deduction under [&h...

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Section 80IA allowed to a single Industrial Unit not all the units taken together

CIT Vs M/s. Bannari Amman Sugars Ltd. (Madras High Court)

CIT Vs M/s. Bannari Amman Sugars Ltd. (Madras High Court) Whether on the facts and In the circumstances of the case, the Income-Tax Appellate Tribunal was right in law in holding that the assessee is entitled deduction under section 80IA of the Act, even though where a company apart from his regular business and in […]...

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No deduction u/s 80IA(4) granted in first year could be denied in subsequent Years unless there was change in original terms and conditions

K. Raheja IT Park (Hyderabad) Pvt. Ltd., Vs DCIT (ITAT Hyderabad)

When deduction u/s 80IA(4) had been granted in first year of claim the same could not be denied in subsequent years, unless assessee had changed the original terms and conditions in the first year while fulfilling for the granting deduction in the first year of operation....

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Section 80IA deduction not restricted to Business Income: SC

CIT Vs Reliance Energy Ltd. (Supreme Court)

CIT Vs Reliance Energy Ltd. (Supreme Court) We have considered the submissions on behalf of the Revenue as it has a bearing on the interpretation of sub-section (1) of Section 80-IA of the Act. We hold that the scope of sub-section (5) of Section 80-IA of the Act is limited to determination of quantum of […]...

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Assessee has option to choose initial from which it may desire to claim Section 80IA deduction for ten consecutive years

CIT Vs Tamil Nadu Newsprint and Papers Limited (Madras High court)

CIT Vs Tamil Nadu Newsprint and Papers Limited (Madras High court) It is abundantly clear from Sub-Section (2) of Section 80IA that an assessee who is eligible to claim deduction u/s 80IA has the option to choose the initial/first year from which it may desire the claim of deduction for ten consecutive years, out of […]...

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ITAT allows Any year as initial assessment year for Section 80IA deduction

Petronet LNG Ltd Vs DCIT (ITAT Delhi)

Where assessee had existing brought forward losses which were either could not be set off against the profits and if the assessee considered any year as the initial assessment year for the benefit of Section 80IA in such cases, the eligible profits would be determined only after setting off of the losses/ unabsorbed depreciation carried f...

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Developer of infrastructural facility eligible for Section 80IA(4) deduction

ACIT Vs Simplex Infrastructures Ltd. (ITAT Kolkata)

ACIT Vs Simplex Infrastructures Ltd. (ITAT Kolkata) In the instant case, as will be evident from the perusal of the agreements, as enclosed in the Paper book and relevant portions of which are discussed as above, all the agreements under consideration are not for a specific work, they are for development of facility as a […]...

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Section 80IA deduction cannot be denied for use of same technology & Production of Same product

NLC India Ltd. Vs. DCIT (ITAT Chennai)

DCIT Vs NLC India Ltd. (ITAT Chennai) The main objection of the AO is that the new unit started cannot be considered as separate undertaking because it is using the same manufacturing technology and the finished goods are also the same, i.e., power. The new unit, i.e., unit TPS-I Expansion is nothing but the expansion […]...

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AO cannot disallow interest in section 80IA deduction working when same already been disallowed by Assessee

GVK Jaipur Expressway Private Limited Vs. DCIT (ITAT Jaipur)

GVK Jaipur Expressway Private Limited Vs. DCIT (ITAT Jaipur) It was submitted that the assessee on review of the appeal documentation noticed that it has suo-moto disallowed the interest receipts while computing book profits for the purposes of deduction u/s 80IA of the Act and the said fact has inadvertently escaped its attention at the ...

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