Home Highlights August 2015 Year 2015 This

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1. Deduction u/s 80IC - Customer advances written back as income derived from industrial undertaking - Revenue could not show us any reason that why above sum cannot be...

2. Dividend received by the assessee has no direct nexus with the profits and gains derived from the manufacturing activity and industrial undertaking - Not eligible for...

3. Deduction u/s 80IA in respect of profits of the eligible undertaking - So far as interest on delayed payment from customers is concerned, such payments were made by...

4. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

5. 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...

6. Sale of building material could not be accepted to be derived from “industrial undertaking” eligible for deduction under section 10(B) of the Act - AT

7. Disallowance of deduction u/s 80IC - Subsidy - nexus between the profits and gains of the industrial undertaking or business - The assessee succeeds and claim of the...

8. Calculation of deduction under Section 80IA - forfeiture of advance - income ‘derived from’ from the running of eligible industrial undertaking or not - Deduction allowed - HC

9. Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

10. Deduction u/s 80IC - substantial expansion - Initial assessment year - in case substantial expansion is carried out as defined in clause (ix) of Sub-section-8 of Section...

11. Exclusion of interest income for the purpose of computing the deduction u/s 32AB - interest derived by the industrial undertaking of the assessee on deposits made with...

12. The resultant profits and gains, derived from, or derived by, an industrial undertaking, because of the insurance subsidy, have to be treated as deductible in terms of...

13. Deduction u/s 80-IA - the income on sale of certified emission reduction/carbon credit would form part of the profit and gains of business ; however, cannot be treated...

14. Denial of claim of deduction u/s 80IA on interest and other income - H various higher judicial authorities have held that profits of the business of the undertaking...

15. Income derived from letting out of property to the tenants - Industrial park / SEZ unit - in the case of an undertaking which develops, develops and operates or...