Revision u/s 263 - deduction claimed u/s 80-IC - gain from ...

Income Tax

November 18, 2019

Revision u/s 263 - deduction claimed u/s 80-IC - gain from exchange fluctuation - gain on account of unclaimed balance - nature of Insurance claim and export incentives - the action of Ld. Pr. CIT was without jurisdiction and all subsequent actions are 'null' in the eyes of law - order quashed.

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Revision u/s 263 - deduction claimed u/s 80-IC - gain from ...

Income Tax

November 18, 2019

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Claim of deduction of credit balance appearing under the head “Settlement Bargain” u/s 80IB - fluctuation of rate of exchange - amount is eligible for deduction u/s 80IB - AT

Deduction u/s 80HHE - there is no occasion to exclude 90% of the amount attributable to export gains from the foreign exchange rate fluctuation - HC

Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

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

Difference on account of exchange rate fluctuation is entitled to deduction under section 80IB - AT

Disallowance of Deduction u/s 80-IC - manufacturing activity - conversion of Jumbo Rolls of photographic films into small flats and rolls in desired sizes - deduction...

Deduction u/s 80-IC in respect of the amount added back under Section 40(a)(ia) - even if the expenditure is disallowed u/s.40(a)(i) of the Act, the result will be that...

Computation of relief u/s 80 IC - Baddi Unit had transferred the goods to other units on cost basis - The separate books maintained have not been rejected - deduction allowed - AT

Whether the standing charges payable under the agreement dated 23rd June, 2004 qualify and are eligible for deduction under Section 80 IC - HC

Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

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