Deduction u/s 80 IB (10) - allowable expenses to project - Since ...

Income Tax

January 10, 2021

Deduction u/s 80 IB (10) - allowable expenses to project - Since all the administrative expenses cannot be linked to the activities reasonably, it can be allocated reasonably to all the activities carried on by the assessee. We notice that assessee is currently carrying on 2 projects by name Classique and Royal and other activities i.e., sale of TDR - common administrative expenses must be allocated on all the activities carried on by the assessee therefore allocated based on gross revenue. - AT

View Source

← Previous Next →

Deduction u/s 80 IB (10) - allowable expenses to project - Since ...

Income Tax

January 10, 2021

You may also like:

Deduction u/s 80IB - Gross receipt of DDB incentive, without reduction of expenditure spent for its recovery, is to be excluded from allowable deductions under Section...

Deduction u/s 80(IB)(10) in respect of POR project - CIT(A) has observed that in view of the provisions of Section 80(IB)(10) of the Act, when the approval of the...

Deduction u/s 80-IB – interest earned by him on FDRs kept as guarantee with Electricity Department - cannot be computed for deduction u/s 80-IB - HC

Claim of deduction u/s.80-IB (10) - As the assessee has executed the project undertaking the risks and rewards and therefore, the claim of Section-80IB(10) is justified....

Deduction u/s.80-IB(10) - unrecorded income towards on money - income disclosed by the assessee treated as income of the assessee from the business and not as from other sources

Galvanized iron pipe is a different commercial commodity than a iron pipe, therefore the activity of galvanization in our considered opinion amounts to manufacture -...

Deduction u/s 80-IB(10) - out of both the projects only 8 flats were sold to persons who were relatives - principle of proportionate disallowance to be applied - AO...

Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT

Eligibility for deduction u/s 80-IB(10) - additional income - there is no dispute that the assessee had made a claim of deduction 80-IB(10) and the question is only...

Deduction u/s 80-IB(10) - manner of allocating the common expenses - the financial positions of the assessee will represent distorted position if the common expenses are...

Quick Updates: