Home Highlights November 2013 Year 2013 This

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1. Deduction u/s.80IA - Interest and other income - the assessee is not entitled for deduction towards eligible profit u/s.80IA of the Act in respect of other income...

2. Allowance of deduction u/s 80IA - the unabsorbed depreciation set off in earlier years cannot be reduced from the profits for computing the deduction u/s 80IA - AT

3. Entitled to deduction u/s 80IA (4)(iii) on rental income - where the main business of the company is to earn rental income as its business income, the income would be...

4. Deduction u/s 80IA - the scope of deduction under Section 80IA of the Act is limited to determination of quantum of deduction by treating eligible business as the only...

5. 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...

6. Deduction u/s 80IA - ICD - Inland port - infrastructure facilities - deduction allowed - HC

7. Deduction u/s 80IA - If an assessee is entitled to certain deductions under the provisions of the Income Tax Act, the same should not be disallowed, merely because of...

8. Denial of claim of deduction u/s 80IA on interest and other income - H various higher judicial authorities have held that profits of the business of the undertaking...

9. Disallowance on account of deduction u/s 80IA - Computation of deduction - It is only when the loss have been incurred from the initial assessment year, then the...

10. Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

11. Assessment u/s 153A - claim of deduction under section 80IA(4) - Paper company or not - assessee as a SPV was a mandatory requirement of NHAI - four laning of the...

12. Disallowance of claim u/s 80IA - return of income was not filled as per provisions of section 139(1) - Since the assessee has made substantial compliance to claim the...

13. Deduction u/s 80IA - eligible profit - Interest received from employees - the equipment hire charges would not be entitled to special deduction u/s 80I of the Act - AT

14. Deduction u/s 80IA - If the scrutiny assessment results in to positive income it is obligation on the part of the AO to allow all the statutory deductions including the...

15. Deduction u/s 80IA - profit of Generation of electricity - notional income from savings in Low Sulphur Heavy Stock (LSHS) due to steam generation by the assessee's...