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Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Denial of deduction u/s 80IC - no merit in the claim of the ...

Income Tax

June 23, 2015

Denial of deduction u/s 80IC - no merit in the claim of the assessee vis-à-vis deduction under section 80IC of the Act in respect of the interest received from HIMUDA, interest on IT refunds and award received from Government - however Foreign Exchange Fluctuation Gain we hold that the is directly linked to the business - AT

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  5. Deduction u/s 80IC - Hotel - eco-tourism project - Non-filing of Audit report alongwith return of income - Denial on ground of non-fulfillment of condition of eco-friendly - AT

  6. Deduction u/s 80IB and 80IC - Transport subsidy - Power subsidy - Interest subsidy - Insurance subsidy - are operational in nature - related to the production -...

  7. Disallowance of interest expenditure u/s 57 - nexus between the interest income vis-à-vis the interest expenditure - no nexus between the impugned income and interest...

  8. No reason to denial of claim u/s 80IC on the ground of filing the return belatedly - AT

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  10. Deduction u/s 80IC - whether sales tax rebate to be included as profit derived from Industrial Undertaking and eligible as deduction u/s 80IC - Held No - HC

 

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