Home Highlights June 2013 Year 2013 This

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1. Deduction u/s 80 IC/ 80 IB - assessee is eligible to deduction u/s 80 IB/ 80 IC of the Act on the damages against cancellation, commission from shipping while it is held...

2. The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan Masala. The company's product was considered excluded for deduction due...

3. 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...

4. 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

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

6. Entitlement to deduction u/s 80IC - Legislature has shown its intent, namely, where the industry is not located in North- Eastern State, the period for which deduction...

7. 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...

8. Deduction u/s 80-IB - reconstruction of a business already in existence - assessee setting up of an industrial unit by purchase of old/used plant and machinery defeat...

9. Deduction u/s 80-IB - Duty Drawback and DEPB - on the profit from DEPB and Duty Drawback claims, the assessee shall not be entitled to the deductions under Section 80-IB...

10. Deduction u/s 80IB - No infirmity either in the procedure or in passing of intimation u/s 143 (1A) of the act as well as in denying deduction u/s 80 IB of the act to the...

11. Disallowance of deduction claimed u/s 80-IB(10) - When the third party individuals are partners in the assessee-firm apart from the children of the land owners, the...

12. Revision u/s 263 - Deduction u/s.80-IB(10) to land owners - in response to SCN by CIT assessee placed tribunal decision where deduction u/s.80-IB(10) allowed to land...

13. Deduction u/s. 80-IB - Profit derived from the business of manufacture and sale of Pig Iron - Profit from the sale of slag, being a by-product - concurrent findings of...

14. 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....

15. Entitlement to deduction under section 80-IB - Held that:- Since the assessee had filed the return of income belatedly on September 20, 2010, the assessee was not...