Home Highlights June 2015 Year 2015 This

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1. On a conjoint reading of section 80-IC(7) read with section 80-IA(5), it can safely be gathered that for the purpose of determining the quantum of deduction under...

2. Exemption u/s 80-IC - Claim denied as no work was carried at the Baddi Unit - There is no concrete material on record which would suggest that the assessee’s claim was...

3. Benefit u/s 80-IC - manadation of having separate and distinct Unit - The building where the registered office was started in the assessment year 2009-10, was got...

4. Once a company validly opts for the concessional tax rate u/s 115BAA for an assessment year, it is not required to exercise the option again for subsequent years, unless...

5. Deduction u/s 80-IC in respect of the amount added back under Section 40(a)(ia) - even if the expenditure is disallowed u/s.40(a)(i) of the Act, the result will be that...

6. Benefit of Section 80-IC - A person, an enterprise or an undertaking, is entitled to take the benefit of Section 80-IC only insofar as it carries on business, which is...

7. Computation of relief u/s 80 IC - Baddi Unit had transferred the goods to other units on cost basis - The separate books maintained have not been rejected - deduction allowed - AT

8. Revision u/s 263 by CIT - assessee’ s claim of 100 % exemption of profits u/s 80 IC - Manufactured items - serial no. 5 of the negative list - on account of the clear...

9. The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan Masala. The company's product was considered excluded for deduction due...

10. Assessment u/s 153A - Bogus purchases - Admittedly in subsequent years there was no seized material available and the learned assessing officer has not extrapolated the...

11. Deduction u/s 80-O - brandishing newspaper cuttings as proof to show 'information concerning commercial knowledge and experience' - The High Court noted that the...

12. Benefit of deduction contemplated u/s 80-IC - Certainly, the mere procurement of a No Objection from the Pollution Control Board cannot be determinative of a question,...

13. The High Court quashed the reassessment notices issued u/s 148 and the consequent initiation of reassessment proceedings, ruling in favor of the assessee. The key points...

14. Deduction u/s 80-IB - if a small scale industry, in the course of 10 years, stabilizes early, makes further investments in the business and it results in it's going...

15. Deduction u/s 80 IC/ 80 IB - assessee is eligible to deduction u/s 80 IB/ 80 IC of the Act on the damages against cancellation, commission from shipping while it is held...