Transfer of plant and machinery to new industrial unit - ...

Income Tax

November 28, 2013

Transfer of plant and machinery to new industrial unit - Rejection of deduction u/s 80IA - Neither there is suppression of fact or misrepresentation of fact by the Assessee - For attracting penalty u/s 271(1)(c) men's rea is necessary - HC

View Source

← Previous Next →

Transfer of plant and machinery to new industrial unit - ...

Income Tax

November 28, 2013

You may also like:

Deduction u/s 80IA in respect of profits of captive power plants ('CPPs') - The tribunal, referring to the Comparable Uncontrolled Price (CUP) method and previous...

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...

Transfer of CENVAT Credit to lessee unit - Rule 10 of CCR 2004 - On going through the entire agreement, it is clear that there is consensus ad idem to transfer the...

Deduction claimed u/s 80IA(4)(iv)(c) - There is no requirement of capitalization of expenditure on renovation and modernization in the books of accounts is condition...

Input tax credit - land filling pit can be considered as ‘Plant and machinery’ or as ‘civil structure’ - In the second explanation given in Section 17, while providing...

Deduction u/s 80IB - converting the proprietorship into a partnership firm resulted into transfer of plant and machinery previously used by the undertaking - there was a...

Deduction u/s 80IB - upon conversion of the proprietorship concern to a partnership concern there was no transfer of plant and machinery to the partnership firm,...

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...

Claim of deduction u/s 80IB for Unit II – The new unit has also not been formed by transferring to the new business machinery and plant previously used for any purpose -...

Deduction u/s 80-IB - reconstruction of a business already in existence - assessee setting up of an industrial unit by purchase of old/used plant and machinery defeat...

Depreciation - plant and machinery could not be used during the year due to shifting / relocation of plant - Though, the unit could not generate revenue during the year...

Disallowance of excess depreciation of electrical installation - since the assessee is engaged in manufacturing of cotton yarn and the electrical installation for which...

Disallowance of depreciation - revenue doubts existence of plant and machinery - assessee has neither able to substantiate by way of any agreements entered into by it,...

Industrial undertaking - As per section 80IA(3)(ii), once the machinery or plant previously used for 'any purpose' is transferred to a new business, the concerned...

Depreciation on electrical fitting - plant and machinery v/s furniture and fixtures - It is necessary to have electrical fittings for the power supply to the machineries...

Quick Updates: