Industrial undertaking - As per section 80IA(3)(ii), once the ...

Section 80IA(3)(ii) Denies Tax Deductions for Industrial Undertakings Using Previously Owned Machinery or Plant.

December 6, 2013

Case Laws Income Tax AT

Industrial undertaking - As per section 80IA(3)(ii), once the machinery or plant previously used for 'any purpose' is transferred to a new business, the concerned undertaking is not entitled for deduction - AT

View Source

← Previous Next →

Industrial undertaking - As per section 80IA(3)(ii), once the ...

Section 80IA(3)(ii) Denies Tax Deductions for Industrial Undertakings Using Previously Owned Machinery or Plant.

December 6, 2013

Case Laws Income Tax AT

You may also like:

The Income Tax Appellate Tribunal allowed the assessee's claim for deduction u/s 80IA(4)(iv) of the Income Tax Act. The Tribunal held that the mere change of ownership...

Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from...

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...

Deduction u/s 80IA in respect of profits of the eligible undertaking - So far as interest on delayed payment from customers is concerned, such payments were made by...

Calculation of deduction under Section 80IA - forfeiture of advance - income ‘derived from’ from the running of eligible industrial undertaking or not - Deduction allowed - HC

Deduction u/s 80IA - the scope of deduction under Section 80IA of the Act is limited to determination of quantum of deduction by treating eligible business as the only...

Deduction u/s 80IA(4) on wind mills and solar power plants - Whether each windmill and solar power plant installed by the assessee should be considered as separate...

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

Allowable deduction - Education Cess (EC) and Secondary & Higher Education Cess (SHEC) on income-tax - It is settled that, education cess on income-tax, dividend...

Assessment of turnover of the applicant as per Section 4(3) of the VAT - levy of tax on turnover of sale has to be done in the manner provided in Section 4(3) of the Act...

Disallowance of claim u/s 80IA - return of income was not filled as per provisions of section 139(1) - Since the assessee has made substantial compliance to claim the...

Deduction u/s 80IC - Customer advances written back as income derived from industrial undertaking - Revenue could not show us any reason that why above sum cannot be...

The HC allowed the petition, finding the applicant entitled to transitional input tax credit under Section 140(3) of the KSGST Act for computers and laptops used in...

Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be...

The case involves a dispute regarding the eligibility of deduction u/s 80IB for profits derived from repairs and maintenance services of moulds in an industrial...

Quick Updates: