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 Bangalore held that rental income is inseparably connected with the business carried on by the assessee and emanate directly from the business of the undertaking. Accordingly, rental income derived by the assessee from Cargo Agents, Airlines, Banks etc., is derived from the cargo business and eligible for deduction u/s. 80IA. The addition is deleted.
P.S.K. Engineering –Construction & Co. Vs ADIT (ITAT Chennai) ITAT have perused the entire order but could not understand from the order whether opportunity was granted to the assessee before denying the deduction u/s.80IA of the Act. The ld.DR could not answer whether opportunity was granted or not. Every quasi-judicial order has to be a […]
Held that deduction under Section 80IA of the Income Tax Act is to be allowed unit wise without deducting incurred loss by the other unit of eligible business and allowed the appeal of assessee.
Patel Brass Works P. Ltd Vs ACIT (ITAT Rajkot) The issue for consideration before us is that if the assessee has not claimed deduction under section 80-IA of the Act in the return of income, can it be permitted to claim the same during the course of assessment proceedings by way of filing a revised […]
Held that merely because the assessee is referred as a contractor in the agreement, it doesn’t detract the assessee from the position of being a developer, nor will deprive the assessee from claiming deduction under Section 80IA(4) of the Act.
DCIT Vs Continental Warehousing Corporation (Nhava Sheva) Ltd (ITAT Pune) The only issue is to be decided is as to whether the CIT(A) justified in allowing deduction u/s. 80IA(4) of the Act in respect of Container Freight Station (CFS). At the outset, we note that this issue is covered in favour of the assessee by […]
We hold that since the receipt of interest is intrinsically linked to the primary activity of allotment of plots in the industrial park, it is hereby held that the interest is derived from the eligible business and thus, eligible for the purpose of direction u/s. 80 IA.
Learn about the eligibility of interest income for deduction u/s 80IA of the Income Tax Act. Discover the benefits for industrial undertakings and infrastructure development.
The tax Auditor has also certified the deduction claimed as per Sl.No.33 of the Form No.3CD therefore, only for want of not filing Form NO.10CCB within the due date the claim of deduction should not be disallowed
Salarpuria Properties Pvt. Ltd. Vs DCIT (ITAT Kolkata) Facts- The assessee has filed ROI on 9.10.2010 which was revised on 27.12.2010. The return was processed u/s 143(1) of the Act accepting the returned income. Thereafter the case of the assessee was selected under scrutiny and statutory notices were duly issued and served upon the assessee. […]
