Section 80IA - Page 3

Technical know-how fee falling under category of royalty eligible for deduction u/s. 80-O

DCIT Vs Bajaj Holdings & Investment Ltd. (ITAT Mumbai)

ITAT Mumbai held that technical know-how fee received by the assessee falls under the category of royalty as defined in Section 80-O of the Income Tax Act and hence is eligible for deduction u/s. 80-O of the Income Tax Act, 1961....

Revisionary proceedings u/s 263 justified as order passed without proper inquiry and verification

Sudhir Vrundavandas Valia Vs PCIT (ITAT Mumbai)

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)....

ITAT Grants Section 80IA Deduction for Port Charges, Favors Liberal Interpretation

DCIT Vs PNP Maritime Services Pvt. Ltd (ITAT Mumbai)

A comprehensive analysis of ITAT Mumbai case DCIT Vs PNP Maritime Services Pvt. Ltd. Focusing on Section 80IA deduction on port charges and its implications ...

Due date for filing return for Co-Op Hsg Society for Section 80P deduction

Nutan Laxmi Co-Operative Housing Society Ltd Vs ADD/JT/ DY/ACIT/ITO, NFAC (ITAT Mumbai)

Assessee argued that since they were subject to audit under the Maharashtra State Co-Operative Act, their due date under Section 139(1) of the Income Tax Act was extended to October 31, 2018. Thus, they filed their ITR well within the time limit....

Change of opinion impermissible under the grab of reopening u/s 147

Ultra Tech Cement Ltd Vs CIT (ITAT Mumbai)

ITAT Mumbai held that change of opinion is not permissible under the garb of reopening of assessment under section 147/148 of the Income Tax Act....

Section 80IC deduction cannot be disallowed arbitrarily in subsequent years

C and E Limited Vs PCIT (Calcutta High Court)

Analysis of C & E Limited Vs PCIT case on disallowance of deduction u/s 80IC in subsequent years. Examining the legality & Calcutta High Court's decision....

Refund issued will first be adjusted against interest and then against principal amount

Nirma Limited Vs ACIT (ITAT Ahmedabad)

ITAT Ahmedabad held that the amount of refund issued to the assessee will be first adjusted against the interest then, after that against the principal amount....

Bombay HC Allows Income Tax Deduction u/s 80IA(4)(iii) for Industrial Park

PCIT Vs Punit Chettiar alias Punit Balan (Bombay High Court)

The Bombay High Court upheld the income tax deduction under Section 80IA(4)(iii) for an Industrial Park project. The court considered the approval granted by the Ministry of Commerce and Industry and rejected the AO's disallowance based on an erroneous report....

HC Condones 21-Second Delay in ITR Filing – Allows 80IA Deduction

Balaji Super Alloys Vs PCIT (Madras High Court)

Read the judgment of Madras High Court in Balaji Super Alloys Vs. PCIT case, condoning a 21-second delay in ITR filing and allowing Section 80IA deduction....

Granite Slabs classifiable under 21561200

C.C.E. &

CESTAT Ahmedabad held that Granite Slabs is correctly classified under 21561200 and not under 68022390. Accordingly, the demand on this count is not sustainable hence, the same is set aside....

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