Home Highlights June 2014 Year 2014 This

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1. Deduction u/s 10B - ready to print books exported by the appellant in the form of a CD or e-mail are customised electronic data eligible for claiming benefit of deduction - AT

2. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

3. Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim...

4. The assessment u/s 143(3) was completed, disallowing the deduction u/s 10B on grounds that processing iron ore does not constitute manufacturing within Section 10B's...

5. Non setting off the losses from Export Oriented Unit (Section 10B unit) against the income earned in the Domestic Tariff Area Unit - Admittedly, in the instant case, the...

6. Deduction u/s. 10B - Even though an estimation of excess stock in the middle of the year, while accepting the Books of Accounts of the year, is not generally permitted...

7. Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...

8. Restriction of deduction u/s 10B – 100% Export Oriented Unit (EOU) - assessee will not be entitled for exemption u/s 10B in respect of turnover sold to 100% EOU in India - AT

9. Disallowance of deduction u/s 10B - The tribunal examined the appellant's claim regarding deductions under Section 10B for miscellaneous incomes like scrap sales and...

10. Deduction u/s 10B - Failure to produce the Ratification by the Development Commissioner - assessee have been registered with the STPI, is entitled for deduction u/s 10B - AT

11. Exemption u/s 11 - Claim denied on non-filing of Form 10B - The assessee could not attend the communication due to IT-website technical glitches, however has eventually...

12. Deduction u/s 10B of the Income Tax Act – whether printing of textbooks is eligible activity for claiming exemption u/s 10B - held yes - HC

13. Benefit of exemption from GST - E-book or not - assessee/dealer which publishes law journals in print and sells the same content that is in books in an electronic form...

14. 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...

15. Deduction u/s 10B denied - alternative claim of deduction u/s 10A was not entertained by the CIT(A) primarily for the reason that the assessee had not claimed the same...