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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Claim of deduction u/s 10A of the IT Act,, without setting off ...

Income Tax

April 13, 2016

Claim of deduction u/s 10A of the IT Act,, without setting off of brought forward losses/unabsorbed depreciation allowed - AT

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  1. The deduction under section 10A in respect of the allowable unit under section 10A has to be allowed before setting off brought forwarded losses of a non-section 10A unit - AT

  2. Set off of brought forward unabsorbed depreciation and losses of the unit the Income which is not eligible for deduction under Section 10A of the Act - HC

  3. Exemption u/s. 10A is allwable without set of brought forward business loss and unabsorbed depreciation of non-eligible business unit.

  4. Entitlement to set off the brought forward business loss against the rental income, car and computer hire charges and the commission income - set off allowed - HC

  5. Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

  6. Assessing Officer directed to allow set off of current year's business loss as well as the brought forward business loss/unabsorbed depreciation against the income...

  7. Speculative loss - Setting off the Brought Forward Losses – Proportionate Expenses - The department cannot take different stand on the year under consideration as...

  8. Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

  9. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

  10. The brought forward business loss is to be allowed set off of against the speculation income assessable for the current year - AT

 

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