Home Highlights July 2015 Year 2015 This

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1. Computation of deduction u/s 10A - belated receipt of foreign remittances on account of export sales - The only reason for not considering the alleged amount while...

2. Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

3. Transfer Pricing (TP) adjustments - Transfer Pricing (TP) adjustments - debar of deduction u/s 10A on addition income assessed u/s 92CD as per the Proviso to 92C(4) -...

4. E-commerce business - Selling at a price lower than the cost price - unless certain provisions such as Section 145(3)are invoked, the AO is not empowered to go beyond...

5. Valuation - sale of Gypsum - mere bifurcation of the sale price of the goods in a mutual contract between the parties under a separate bargain or even a common bargain...

6. Exemption u/s 10A - t the foreign exchange gain on packing credit foreign currency loan is not eligible for deduction under section 10A - AT

7. Securities Transaction Tax (STT) rates revised - on sale of options in securities increased from 0.0625% to 0.1% of option premium, on sale of futures in securities...

8. TP Adjustment - Naturally when sales price consists of price for warranty and After sales services, which are promised at the time of sales, naturally corresponding...

9. Adjustment towards foreign exchange fluctuation - non-consideration of impact of abnormal movement in the foreign exchange rates while computing the operating profit...

10. Revision u/s 263 by CIT - Irregular allowance of long-term capital loss wherein it has been held that the assessee has applied the cost of inflation index on foreign...

11. Computing the deduction u/s 10A - addition made on account of the disallowance of the provident fund/ ESIC payments u/s 36(v) r.w.s 2(24) (x) - The contention of the...

12. Disallowance of communication charges while computing deduction u/s. 10A - communication charges etc., attributable to the delivery of the computer software outside...

13. Levy of differential Additional Duty of Customs - Valuation for CVD - In this case since the goods are not sold to the consumer there cannot be a retail sale price. The...

14. 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...

15. Deduction u/s 10A - Disallowance of deduction u/s 35D of the Act would go to increase profit of the business on which deduction u/s 10A of the Act was to be allowed to...