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 : 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 : The court held that deduction under Section 80P cannot be granted where no return of income is filed. The key takeaway is that cla...
Income Tax : ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gu...
Income Tax : ITAT's decision favored Candor Kolkata One Hi-Tech Structures, allowing deductions under Section 80-IAB for on various incomes, in...
Income Tax : ITAT Mumbai held that initiation of revisionary proceedings u/s 263 of the Income Tax Act justified as assessment order was passed...
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-generating intra-group service. The Tribunal deleted the transfer pricing adjustment after finding the benchmarking method adopted by the TPO unjustified.
The court held that deduction under Section 80P cannot be granted where no return of income is filed. The key takeaway is that claiming deduction in a valid return is mandatory.
ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gurgaon One Realty vs ACIT case.
ITAT’s decision favored Candor Kolkata One Hi-Tech Structures, allowing deductions under Section 80-IAB for on various incomes, including car parking, health club, food court, and interest.
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).
The ITAT Delhi ruling on Seaview Developers regarding deduction claims under section 80IAB for sales of food and beverages and interest expenses.
In an ITAT Kolkata ruling, deduction u/s 80P for AY 2019-20 was allowed due to timely filing within the due date specified by CBDT. The CPC’s adjustment was deemed beyond its jurisdiction before April 2021
ITAT Delhi held that that car parking cannot be separated from the main business of SEZ, hence deduction under section 80IAB of the Income Tax Act duly available on income from car parking rental.
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 2024-2025)
DCIT Vs DLF Assets Pvt Ltd. (ITAT Delhi) The assessee is without doubt a Developer of a SEZ, having been in fact allowed deduction u/s.80-IAB on it’s other income/s, as from service agreements, chargeable u/s. 28. That the said income is assessable as business income, and only rightly so, inasmuch as the source thereof is […]
