Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2020 Year 2020 This

Deduction u/s 80P(2) against enhanced income due to disallowance ...

Income Tax

July 21, 2020

Deduction u/s 80P(2) against enhanced income due to disallowance of capital expenditure - since such disallowances were in course of assessee’s regular business activities, they will only enhance the business profit of the assessee. - Deduction allowed.

View Source

 


 

You may also like:

  1. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

  2. Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

  3. Disallowance u/s 40(a)(ia) - payment of pigmy commission had direct nexus with the business income of the assessee on which deduction u/s 80P(2)(a)(i) was claimed - If...

  4. Deduction us/ 80P(2) - income received on investment made with co-operative banks - The Tribunal interpreted section 80P(2)(d) and (e) to determine the eligibility of...

  5. Deduction u/s. 80P(2)(d) - interest income earned from other cooperative banks/societies - Principle of mutuality - Taxability of Club House income - The Tribunal...

  6. Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

  7. Deduction u/s 80P(2)(a)(i) - assessee has shown interest income which was received from the non-members - There remains no ambiguity that income received by the assessee...

  8. Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

  9. Deduction u/s 80P(2)(a) - return of income filed belatedly u/s 139(4) - The assessee has claimed deduction U/s 80P(2)(a)(i) on profits earned during the year and filed...

  10. Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

  11. Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

  12. Claim of deduction u/s 80P(2)(d) - interest income received from Co-operative Bank - In the present case even though the assessee’s claim of deduction under section...

  13. Grant of deduction u/s 80P(2)(d) - if such deduction is not claimed in computation of income, then no disallowance be made to the total income of the assessee.

  14. Deduction u/s 80P2(a)(i) - Interest on fixed deposits - The Appellate Tribunal noted that the deductions available under Section 80P(2)(a) are activity-based, and the...

  15. Deduction u/s 80P - In case of co-operative credit society, income to which benefit of section 80P(2)(a)(i) is not allowed, e.g., rental income, interest income from...

 

Quick Updates:Latest Updates