Deduction u/s 80IA - notional carried forward of unabsorbed ...

Income Tax

August 17, 2023

Deduction u/s 80IA - notional carried forward of unabsorbed losses/depreciation - The deeming fiction created by sub-section (5) of Section 80IA does not envisage such an adjustment. The fiction which has been created is simply this: the eligible business will be the only source of income. There is no fiction created, that losses which have already been absorbed, will be notionally carried forward and adjusted against the profits derived from the eligible business to quantify the deduction that the assessee could claim u/s 80IA of the Act. - HC

View Source

← Previous Next →

Deduction u/s 80IA - notional carried forward of unabsorbed ...

Income Tax

August 17, 2023

You may also like:

Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed...

Unabsorbed depreciation set off against short term capital gain - Period of limitation for carrying forward of Unabsorbed depreciation loss - Period of limitation for...

Carry forward of investment allowance - unabsorbed depreciation of Amalgamating Company - Section 72A - Claim allowed - HC

Deduction u/s 80IA(4) on wind mills and solar power plants - Whether each windmill and solar power plant installed by the assessee should be considered as separate...

Revised return of loss/unabsorbed depreciation – even if the assessee has not filed revised return, AO is bound to allow carried forward loss or depreciation as per the record - AT

Determining the business loss by allowing carried forward loss - return is filed beyond the due date prescribed u/s 139(1) - AO has correctly held that business loss is...

Claim of deduction u/s 80IA - there is no question of setting off notionally carried forward unabsorbed depreciation or loss against the profits of the unit and the...

Change in constitution of firm or on succession – Restriction to carry forward losses - Unabsorbed depreciation is carried forward u/s 32(2) and are not brought forward...

Carry forward the unabsorbed depreciation beyond eight years - The interregnum restriction of limiting the claim for an eight-year period does not take away the right of...

B/F losses not allowed to be carry forward - There is, in our opinion, no practical efficacy in the assessee carrying forward business losses, unabsorbed depreciation,...

Unabsorbed business loss – carry forward of losses - assessee shall be entitled to carry forward unabsorbed business loss only if such loss is computed based on a return...

Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

Carry forward of unabsorbed depreciation - carried forward unabsorbed depreciation of the earlier year has to be taken as a part of the current year’s depreciation...

Quick Updates: