Home Highlights September 2014 Year 2014 This

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1. Deduction u/s.80IA - Interest and other income - the assessee is not entitled for deduction towards eligible profit u/s.80IA of the Act in respect of other income...

2. 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...

3. Deduction u/s 80IA on the enhanced expenditures made to sub-contractors - The issue of the claim of higher deduction on the enhanced profits has been a contentious one....

4. 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...

5. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

6. Profit eligible for deduction u/s 80IA(4) - increased eligible profit due to disallowance of bogus purchase - All the activities carried on by the assessee are eligible...

7. Disallowance u/s 80IA/80IB - There is no requirement u/s 80IA(5) of the Act to adjust profits derived from the eligible units against the losses that stand absorbed...

8. Deduction u/s. 80IA(4)(iii) - interest income received - Income derived from - In the present case, the immediate source of interest income was the fixed deposits kept...

9. Deduction u/s 80IA -`Excess provision written back’ - it cannot be characterized as anything other than part and parcel of profit derived from eligible enterprise. In...

10. Deduction u/s 10B(7) r.w. section 80IA(10) – reimbursement of cost of employees of PCEPL which were hired by assessee (PEPL) for doing the work - deduction cannot be denied - AT

11. Eligible to claim deduction u/s 80IA - Contracts awarded to JVs - constituents of JVs are eligible to claim deduction u/s 80IA

12. Deduction u/s 80IA - notional carried forward of unabsorbed losses/depreciation - The deeming fiction created by sub-section (5) of Section 80IA does not envisage such...

13. 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...

14. Computation of book profit - MAT u/s 115JA - Treatment of interest income for the purpose of section 80IA and thereafter book adjustment u/s 115JA - there was a nexus...

15. Deduction u/s 80IA - whether the assessee is entitled to deduction u/s 80IA of the Act on the net interest income on employees loans & advances, interest on margin money...