Home Highlights July 2013 Year 2013 This

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1. Disallowance of deduction u/s 80IC - Subsidy - nexus between the profits and gains of the industrial undertaking or business - The assessee succeeds and claim of the...

2. Transport subsidy and interest subsidy cannot be said to be ‘derived from’ the industrial undertaking of the assesse, not eligible for deduction u/s 80IB - HC

3. Transport subsidy and interest subsidy cannot be said to be derived from the industrial undertaking of the assesse, not eligible for deduction u/s 80IB - HC

4. Deduction u/s 80IB(11A) - interest subsidy - if bank has charged 12% and it got subsidy of 5%, then it had charged the rate of 7% on the profit & loss account, then it...

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

6. Deduction u/s 80IB on Central Excise Duty refund - receipt of the subsidy was capital in nature as the assessee was obliged to utilize the subsidy only for repayment of...

7. Deduction u/s. 80IC - Allowability of interest from FDR’s - AO himself noted that the interest received by the assessee from four entities was due to FDR’s kept with...

8. Deduction u/s 80IA - tariff subsidy specifically given to meet the cost of power of the industrial undertaking - deduction allowed in respect of operational subsidy u/s - HC

9. Deduction on various subsidies u/s 80IB - assessee is also entitled for relief on alternate contention and would be entitled to set off of the expenses under the grant...

10. Deduction u/s 80IB - whether freight charges recovered from the customers are eligible for deduction under section 80IB ? - since the department has allowed the claim of...

11. Withdrawal of deduction u/s 80IC on transport charges & transport subsidy - whether a mistake apparent from record in terms of section 154 - It is a highly debatable...

12. Capital or revenue receipt - incentives - excise duty refund, interest subsidy and insurance subsidy held as capital receipts .... – HC

13. Computation of deduction u/ss 80IB/80IC and 10B - AO allocated Head Office expenses to eligible units, reducing deduction. Tribunal consistently restores issue with...

14. Deduction u/s 80IC - proof of manufacturing activities provided or not? - whether certain incriminating documents were seized during the course of search operation as...

15. Deduction u/s 80IB(4) on account of insurance claim received on loss of stock – deduction allowed u/s 80 IB - AT