Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
Income Tax : Explore deductions under Sections 80IA to 80IE for A.Y 2021-2025. Understand provisions, eligibility, quantum, and conditions. Sim...
Income Tax : Explore the rules and challenges of Domestic Transfer Pricing (DTP) in India. Learn about legal definitions, threshold limits, app...
Income Tax : Penalties for failing to maintain records of specified domestic transactions. Learn about arm's length pricing & essential documen...
Income Tax : Tax planning while setting up of a business with reference to location (2021-2022 A.Y, A.Y 2022-2023 , A.Y 2023-2024 and A.Y 202...
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...
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...
Income Tax : The Government has decided that telecom companies offering 3G services will not be allowed to claim tax breaks under Section 80 IA...
Income Tax : Assessee was engaged in diamond manufacturing, trading, and windmill power generation, had claimed deductions under sections 35DD ...
Income Tax : Gujarat High Court grants Alembic Ltd Rs. 4 crore income tax deduction under Section 80IA for their captive power plant. Read the ...
Income Tax : ITAT Cuttack rules replacement of gear boxes in Surface Furnace Kiln as current repairs under Section 31(1) for Sponge Tata Iron L...
Income Tax : ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent...
Income Tax : Learn how Enayetpur S K U S Ltd secured Section 80P(2)(i) benefits for providing credit facilities for non-agricultural purposes t...
Income Tax : Section 80-IA(4)(iii) of the Income-tax Act, 1961 - Deductions - Profits and gains from Industrial Infrastructure Undertakings, et...
Income Tax : Notification No. 78/2010-Income Tax [F.No.178/100/2008-ITA-I], dated 11-10-2010 Government hereby notifies M/s. Marathon Nextgen ...
Income Tax : Notification No. 73/2010-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-sect...
Income Tax : 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...
Income Tax : Notification No. 54/2010-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-sect...
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).
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
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.
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.
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.
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.
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.
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.
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.
The ITAT Bangalore has allowed the appeal of Dunichand Khitri Raja against the disallowance of a claim for deduction under section 80-IA of the Income Tax Act. The ITAT held that the delay in filing Form 10CCB, due to technical glitches beyond the assessee’s control, should not bar the claim of deduction.
