Deduction u/s 10A - export turnover being unbilled revenue, ...

Taxpayer Denied Deduction u/s 10A for Unbilled Revenue Due to Lack of RBI Extension Approval.

October 30, 2019

Case Laws Income Tax AT

Deduction u/s 10A - export turnover being unbilled revenue, which was yet to be billed - assessee raised invoice in March 2008 that is end of subsequent financial year, for which assessee do not have any permission from RBI regarding extension of time. - No relief granted to assessee.

View Source

← Previous Next →

Deduction u/s 10A - export turnover being unbilled revenue, ...

Taxpayer Denied Deduction u/s 10A for Unbilled Revenue Due to Lack of RBI Extension Approval.

October 30, 2019

Case Laws Income Tax AT

You may also like:

Weighted deduction on R&D expenditure claimed u/s 35(2AB) - Claim denied for want of requisite approval received from DSIR - If the appellant is aggrieved by the denial...

Validity of reopening of assessment - Approval of PCIT u/s 151 - The Tribunal acknowledged the Assessee's argument regarding the mechanical approval granted by the PCIT....

The Appellate Tribunal upheld the addition u/s 68 for alleged bogus Long Term Capital Gains due to off-market cash purchase of shares. The taxpayer's claim for deduction...

Computation of deduction u/s 10A - belated receipt of foreign remittances on account of export sales - The only reason for not considering the alleged amount while...

Demand of Service tax on unbilled revenue - Unbilled revenue represents amounts attributable to services already performed, which have accrued but which have not fallen...

Disallowance of expenses on non-deduction of tax - Without going into the merit of the addition, we find the alternate argument of the ld. Counsel for the assessee...

Extension of last date for filing GST returns by taxpayers in Kerala, Mahe and Kodagu extended

This case deals with the validity of a declaration under the Voluntary Compliance Encouragement Scheme (VCES) for service tax dues. The taxpayer was issued a show cause...

The assessee was entitled to deduction u/s 10A despite receiving foreign exchange beyond six months from the end of the previous year, as the Reserve Bank of India,...

HC held that erroneous attachment of another taxpayer's information to section 148 notice due to inadvertence does not invalidate reassessment proceedings. However, the...

Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

Deduction u/s 10A - the deduction under s. 10A is not an exemption but only a deduction under Chapter III of the IT Act and the provisions of s. 80AB of Chapter VI-A...

Ex-post facto extension of due date for filing Form No. 26QE for TDS u/s 194S - CBD issued a circular extending the due date for filing Form No. 26QE, related to tax...

Approval granted u/s 153D of the Act should reflect due application of mind by the designated authority and not be a mechanical exercise. Perfunctory approval without...

CBDT extended the deadline for filing Form 56F (report of accountant) under section 10AA(8) read with section 10A(5) of Income Tax Act for AY 2024-25 to March 31, 2025....

Quick Updates: