Deduction u/s. 80IB(7B) - Even if separate books of account are ...

Case Laws Income Tax

September 7, 2013

Deduction u/s. 80IB(7B) - Even if separate books of account are not maintained for convention centre, if the assessee is in a position to show the true and correct profit from the convention centre, the deduction u/s. 80IB is to be granted. Nonmaintenance of separate books of account for convention centre itself cannot be a reason for out rightly rejecting the claim u/s. 80IB of the Act - AT

View Source

← Previous Next →

Deduction u/s. 80IB(7B) - Even if separate books of account are ...

Case Laws Income Tax

September 7, 2013

You may also like:

Denial of Exemption u/s. 11 - non maintaining of separate ledger accounts - assessee is maintaining separate ledger for earning this income and also maintaining separate...

Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

Deduction u/s 80lB - CIT(A) held that the assessee has not maintained separate books of accounts, it employed the same employees for manufacture of all products, there...

Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

Investment in personal capacity and separate accounts maintained, no disallowance – Section 14A

Deduction u/s. 80IB - composite development of housing project - assessee have obtained different commencement certificates and started on different periods of time and...

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

Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

Unexplained bank deposit u/s 68 - bank passbook - After the introduction of the definition of the books or books of account u/s 2 (12A), the passbook can also be...

Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

Penalty u/s 271B - failure to get the books of accounts audited u/s 44AB - addition made during the assessment proceedings on the basis of unaccounted sale cannot be...

Eligibility of deduction u/s 10B - each units were not having separate books of accounts but ERP software accounting system was implemented by each of them and...

Charitable object - activities of construction of houses, flats, shops etc. which are sold - Since there is no motive to make profit, the activity cannot be said to be a...

Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

Quick Updates: