Home Highlights January 2013 Year 2013 This

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1. Deduction u/s 10A - Though Section 10A, as amended, is a provision for deduction, the stage of deduction would be while computing the gross total income of the eligible...

2. Exemption / deduction u/s 10A or 10B - when to be allowed - Though Section 10A, as amended, is a provision for deduction, the stage of deduction would be while computing...

3. Computation of depreciation while computing deduction under Section 32AB - HC

4. Exemption u/s 10B - setting off of carried forward loss - Section 10A, as amended, is a provision for deduction, the stage of deduction would be while computing the...

5. Deduction u/s 10B - setting off of the brought forward unabsorbed depreciation loss of the earlier years - the deductions either under Section 10A or 10B would be made...

6. Deduction u/s 10A - setting–off losses relating to other non–eligible units - the stage of deduction would be while computing the gross total income of the eligible...

7. Expenses incurred by overseas branch – Deduction u/s. 44C has to be given after taking into account deduction u/s. 36(1)(viia) and deduction u/s.36(1)(viia) has to be...

8. Denial of deduction claimed under Chapter VI-A i.e. Section 80G/ 80GGA read with Section 35AC - The Appellate Tribunal noted that the appellant had not claimed the...

9. Change of classification of the goods imported by the appellant - Paddle of canoes - Combined reading of Chapter 1(p) of Chapter 95 and 1(p) of Chapter 44 clearly...

10. Deduction u/s.80IC on the profits - gross total income - Going with the prescription of section 80A(2) of the Act, if the gross total income is more than the aggregate...

11. Deduction u/s 10A - the deduction under s. 10A is not an exemption but only a deduction under Chapter III of the IT Act and the provisions of s. 80AB of Chapter VI-A...

12. Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

13. Computation of deduction u/s 80IB(9) - there is no scope to adjust expenses relating to other “undertakings” while computing deduction u/s 80IB(9) of the Act.

14. Computation of deduction u/s 10B - 100% EOU - inter unit transfer should not be treated as part of the “Total Turnover” while computing deduction u/s.10B of the Act - AT

15. Deduction u/s 80G - deductions are duplicate in nature - The non-obstinate clause does not impinge the powers of Assessing Officer to examine deductions claimed after...