Home Highlights May 2018 Year 2018 This

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1. 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...

2. 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...

3. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

4. 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...

5. SSI Exemption - two units - there is not even a dividing walls between the two units - with one entry and exit gate and the two units share a common electricity...

6. 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...

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

8. Computation of deduction u/s 80IA - eligible business shall be treated as the only source of income- Assessee is eligible to deduction without adjustment of loss of other unit.

9. 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...

10. 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...

11. 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...

12. Disallowance u/s 80IA/80IB - There is no requirement u/s 80IA(5) of the Act to adjust profits derived from the eligible units against the losses that stand absorbed...

13. Deduction u/s. 80IA - the assessee shall not be entitled for benefit of deduction u/s. 80IA(4) of the Act with respect to the profit earned by supplying and erection of...

14. 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...

15. Levy of GST - sending goods/ raw material/ capital goods from one unit to other - Existing and new unit (situated within the same state) would have same GSTIN - Being...