Home Highlights August 2014 Year 2014 This

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1. Deduction u/s 80IC - manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures - products manufactured by the assessee come...

2. Disallowance of deduction u/s 80IC - new unit or came into existence by splitting up or reconstruction of a business already in existence - Principle of consistency -...

3. Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

4. Deduction u/s 80IC - proof of manufacturing activities provided or not? - whether certain incriminating documents were seized during the course of search operation as...

5. Deduction u/s 80IC - the cutting and polishing of diamond amounts to manufacturing or production of article or thing as envisaged for the purpose of claiming deduction...

6. Deduction us.37(1) on account of “Escrow Disbursement Provision” ('EDP’) - Prior period expenditure - To put it simply, the AO will bifurcate total Escrow Disbursement...

7. Claim of deduction u/s 80IC - claim of deduction u/s 80IC to the assessee cannot be denied simply because such a claim was not made in the return field u/s 139 (1)...

8. Deduction u/s 80IC - whether sales tax rebate to be included as profit derived from Industrial Undertaking and eligible as deduction u/s 80IC - Held No - HC

9. Deduction u/s 80IC - Revenue contending adjustment of losses of Delhi unit against profit of Baddi unit before providing deduction u/s 80IC - HC

10. Deduction u/s 80IC - substantial expansion after claim 100% deduction - AO allowed the claim of 30% as against 100% claimed by the assessee - following the decision of...

11. Revision u/s 263 - The PCIT primarily questioned the claim of deduction under Section 80IC and criticized the AO for allegedly not conducting a thorough examination...

12. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

13. Deduction u/s 80IC - substantial expansion - in terms of the provisions of the section no claim of deduction @ 100% of profits beyond the stipulated period of five years...

14. Deduction u/s 80IC - existence of multiple “initial assessment years” - AO has simply misunderstood the amendment brought u/s. 80IC and further misunderstood “the...

15. Claim of deduction @100% u/s 80IC - initial assessment year - fresh claim on undertaking substantial expansion from the year of completion of substantial expansion - Not allowed.