Income Tax : The ruling explains strict compliance requirements for specified domestic transactions, including maintaining detailed documentati...
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 : 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 : Court ruled that reassessment notices under Section 148 must be issued through the faceless mechanism under Section 151A and the 2...
Income Tax : The Ahmedabad ITAT held that goodwill arising from a High Court-approved amalgamation qualified as an intangible asset eligible fo...
Income Tax : Calcutta High Court held that failure to investigate allocation of common head office expenses to eligible units rendered assessme...
Income Tax : The ITAT Delhi ruled that reimbursement of software costs to foreign AEs on a cost-to-cost basis could not be treated as a profit-...
Income Tax : ITAT ruled that deduction under Section 80JJAA could not be claimed where the business was acquired through amalgamation. The Trib...
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 Ahmedabad held that income from sale of scraps generated through production process reducing cost of product is eligible for deduction under section 80IC of the Income Tax Act. Accordingly, appeal of revenue dismissed.
During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Patel Joint Venture (JV) in Financial Year (FY) 2016-17 on Mobilisation advance and Machinery advance.
ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development work by entering into a contract with the Government. Accordingly, appeal allowed.
Assessee was specifically asked to justify its claim as the agreement had to be with (a) Central Government (b) State Government (c) Local Authority or (d) Statutory Authority and LMRCL did not fit in any of the four categories.
ITAT Ahmedabad allows deduction under Section 80-IA despite late filing of Form 10CCB, ruling it as a procedural lapse. Read key case details and precedents.
Rajasthan High Court held that profits and gains generated by captive consumption of electricity is eligible for deduction under section 80-IA of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that where Commissioner (Appeals) passed ex-parte order in violation of principles of natural justice, one more opportunity should be granted to assessee. Accordingly, matter restored back to CIT(A) for de-novo consideration.
Deduction under section 80IA(4) couldn’t be denied solely due to the delayed filing of Form 10CCB, as the audit report was filed before the return was processed.
ITAT Ahmedabad dismisses penalty for disallowance of deduction under section 80IA(4), ruling in favor of the assessee as a developer.
Kerala High Court held that revision proceedings under section 263 of the Income Tax Act righty invoked as claim was accepted by assessing officer without any enquiry. Accordingly, jurisdiction rightly invoked.
