Home Highlights April 2013 Year 2013 This

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1. Applicability of provisions of 10A(7) - without establishing through positive evidence that assessee and its related party have arranged their business transaction in a...

2. Deduction u/s 10A - Application of section 80IA(10) - claim excess deduction showing excessive (extra ordinary) profit - revenue arising from its oversees Associated...

3. Delayed filling Return of income - Disallowance of deduction u/s.80IA(7) - Since the assessee- HUF was required to get its accounts audited, the case falls in...

4. Deduction u/s 80IB - Whether Ld.CIT(A) can re-estimate average profit @ 38.40%? - The powers given to assessing officer under sub-section 8 of section 80IA or 80IA(10)...

5. Deduction u/s 10B(7) r.w.s. 80IA(10) - Denial of deduction as assessee is having “more than the ordinary profits” - The judicial pronouncements clearly makes it...

6. Deduction u/s 10B(7) r.w. section 80IA(10) – reimbursement of cost of employees of PCEPL which were hired by assessee (PEPL) for doing the work - deduction cannot be denied - AT

7. Exemption u/s.10(23)(vi) - The assessee-trust does not have profit motive, the small profit generated while carrying out charitable activities, does not mean that...

8. Exemption u/s 10(1) - Agricultural Income or not - A.O. held that the portion relating to other than supply of plants and saplings cannot be characterized as...

9. Denial of exemption u/s 10(25)(ii) - filling of return in the abbreviated name - We are of the considered view that ld. CIT (A) has erred in dismissing the rectification...

10. Approval u/s 10(23C)(v) - Assessee does not have any approval under section 10(23C)(v) of the I.T. Act for the assessment year under appeal, therefore, there is no...

11. Deduction u/s 80IA - More than ordinary profit shown by the assessee under section 80IA(10) - Admittedly, in the case on hand the assessee is showing higher amount of...

12. Deduction u/s 10A - The assessee has exercised this option not to claim this exemption for this year in accordance with provision of Section 10A(7)of the Act - it cannot...

13. Whether income of VCF shall be exempt only to the extent it is from the investment in venture capital undertaking ? - Exemption under section 10(23FB) and exemption...

14. Gratuity exemption u/s Section 10(10)(iii) - exemption limit raised to ₹ 25 lakhs

15. Deduction u/s 80IA in respect of profits from Rail System, Raipur, and Hotgi - No material has been brought on record to show that such an agreement does not exist in...