Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Computation of the quantum of deduction under section 33AB - in ...


Income Tax Act Sec 33AB Deduction: Rare Benefit for Assessees Growing and Manufacturing Tea Without External Blending.

August 6, 2015

Case Laws     Income Tax     HC

Computation of the quantum of deduction under section 33AB - in rare cases, where a very few fortunate assessees who grow and manufacture different varieties of tea and consequently, do not require purchase of any tea for blending with the final product, can only get the benefit of section 33AB of the Act - HC

View Source

 


 

You may also like:

  1. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  2. MAT Computation u/s 115JB - deduction of agriculture income - income from tea growing & manufacturing business - Amount of 40% of the revised composite income as per...

  3. Interest subsidy - Composite income - growing and manufacturing of tea - there is no reason why this income should not be considered as part of the composite income...

  4. Agriculture income - composite income - Rule 8 - business of growing, manufacturing and selling of tea - 60% of Premium on import licence, Sale of Scrap, Misc. Garden...

  5. Deduction u/s 80IC - manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures - products manufactured by the assessee come...

  6. The High Court examined various issues concerning the calculation of deduction u/s 80IC, eligibility for the deduction, disallowance of royalty payments, and treatment...

  7. Correct head of income - characterization of receipts - income derived from saplings or seedlings grown in nursery - Agricultural income or income from other sources....

  8. Income arising out of interest - whether cannot be taken into account for the purpose of giving benefit under section 33AB as held by Tribunal? - When the assessee has...

  9. Deduction u/s 80G - deductions are duplicate in nature - The non-obstinate clause does not impinge the powers of Assessing Officer to examine deductions claimed after...

  10. Process amounting to manufacture - blending and packing of tea - after the processing tea remained tea - mere mixing of different types of tea only for the purpose of...

  11. Deduction u/s 80G - when to claim deduction u/s 80G? - Income from business of manufacturing of tea - AO was of the view that first total income is to be computed and...

  12. Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

  13. 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...

  14. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

  15. Benefit of deduction u/s 80IC - proof of income derived from business - interest income had nothing to do with the carrying on assessee’s business of manufacture, same...

 

Quick Updates:Latest Updates