Home Highlights October 2015 Year 2015 This

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1. Disallowance of deduction claimed u/s 80IB(10) - assessee had offered additional income in the proceedings initiated under section 153C of the Act - Restriction on claim...

2. Deduction u/s. 80IB(10) - declaration of additional income - No doubt there has been suppression of the actual income for the purpose of evading tax. Nevertheless,...

3. Deduction u/s 80IB(10) – assessee is eligible for deduction u/s 80IB(10) of the Act even in relation to impugned additional income offered in a statement deposed u/s...

4. Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

5. Deduction u/s 80IB(10) - there could be no presumption that surrendered amount would represent business income unless and until assessees satisfies the authorities below...

6. Deduction u/s 80IB(11C) - additional income offered during survey - investment in building - excess cash found - while confirming the additions, deduction 80IB(11C) disallowed.

7. Deduction u/s 80IB - amount declared during the course of survey as additional income - assessee is not entitled to the deduction under section 80IB of the Act on the...

8. Assessee is eligible to claim deduction u/s 80IB(10) of the Act for the undisclosed income surrendered during search/survey action in a situation when assessee has been...

9. Deduction u/s 80IB(10) – assessee surrendered the income, whose only source, was the business of the assessee - deduction allowed - AT

10. Entitlement to deduction under section 80IB(10) - once it cannot be held that the project was completed within the prescribed period, the assessee is not entitled for...

11. Transfer Pricing (TP) adjustments - Transfer Pricing (TP) adjustments - debar of deduction u/s 10A on addition income assessed u/s 92CD as per the Proviso to 92C(4) -...

12. Revision u/s 263 by CIT - Allowability of claim of deduction u/s. 80IB(10) - In case Revenue authorities are not satisfied with the contents of the completion...

13. Deduction u/s.80IB(10) - when the assessee claimed the deduction with respect to the residential units, which are having built up area less than 1500 sq.ft, the...

14. Deduction u/s 80IB(10) - assessee had not incurred any expenses towards development or construction of the housing project - we have noted the factual position as could...

15. Disallowance u/s 80IB - additional income earned by means of ‘on-money’ - The ITAT found that the project "Rushikesh" fulfilled all conditions for the deduction under...