New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (11) TMI 1001 - HIMACHAL PRADESH HIGH COURT

2015 (11) TMI 1001 - HIMACHAL PRADESH HIGH COURT - TMI - Entitlement to claim deduction under Section 80IC(4) - non placing on record any documents in support of his claim by assessee that the imported machines had not been used in India, especially since the machines were purchased by the assessee 7 months after their import - Held that:- A s held by Tribunal, being final fact finding authorities, find no force in the submissions of the Ld. DR that documents were not filed before the Assessing .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the assessee is entitled to claim deduction under Section 81IC(4) without placing on record any documents in support of his claim that the imported machines had not been used in India, especially since the machines were purchased by the assessee 7 months after their import? 2. Facts are not in dispute. Respondentassessee (hereinafter referred to as the assessee) is engaged in the manufacture of Printing and Packaging material. Certain machines imported by M/s Printers Park, Chennai stood purchas .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Section 80IC reads as under: "80IC. (1) Where the gross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in sub-section (2), there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction from such profits and gains, as specified in sub-section (3)." "(4) This section applies to any undertaking or enterprise whic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version