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 : 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...
Income Tax : The ITAT Delhi ruling on Seaview Developers regarding deduction claims under section 80IAB for sales of food and beverages and int...
Income Tax : 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...
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 […]
DLF Ltd. Vs. JCIT (ITAT Delhi) Conclusion: Deduction of Rs. 1.78 Billion in respect of profits derived on account of development considerations of bare shells would constitute profits and gains derived from business of developing any Special Economic Zone within the meaning of Section 80 IAB and was allowable to DLF Limited. Held: Assessee-company was […]
The issue under consideration is whether deduction under section 80IAB will be allowed against the income of lease/ rental income from development of SEZ irrespective of wrong classification of head of income.
