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Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

Deduction u/s 10B - manufacturing of testing of equipment - ...

Income Tax

March 9, 2015

Deduction u/s 10B - manufacturing of testing of equipment - manufacturing of assembling the plants which are disassembled for exports - exemption allowed - AT

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  1. Exemption u/s 10B - mere location of the ‘SESA Plant’ outside the EOU and customs bonded area is not a disqualification to claim deduction u/s 10B - HC

  2. Deduction u/s 10B denied - manufacturing / production activity in the course of export or not - finishing activity after procurement of semi-finished garments - claim of...

  3. Deduction u/s 10B - business of the assessee is proved beyond doubt that it involves in the manufacturing activities, in the result, it is eligible to claim deduction u/s 10B - AT

  4. Deduction u/s 80IC - assembling Luggage carriers, Wheel Caps etc - the processes adopted by the Respondent Assessee to obtain front guard, luggage, carrier, rear gear...

  5. Mineral Water Plant assembled at the site of customers – immovable – no excise duty

  6. Manufacture - assembling activity - As the respondents are procuring some indigenous parts of photocopier machine and assembled the same in their factory - the process...

  7. Exemption u/s 10A/10B - Interest income - deposits made with banks for obtaining letters of credit - Benefit of deduction u/s 10B on interest income related to export...

  8. Restriction of deduction u/s 10B – 100% Export Oriented Unit (EOU) - assessee will not be entitled for exemption u/s 10B in respect of turnover sold to 100% EOU in India - AT

  9. Deduction u/s 80-IB/80-IC - assembling of air conditioner, DVD, microwave would fall within the ambit of expression “manufacture“. - AT

  10. Export sales directly made to the consignee through the sister concern was the deemed export of the assessee - deduction u/s 10B allowed - AT

 

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