Home Highlights August 2011 Year 2011 This

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1. Transport subsidy and interest subsidy cannot be said to be ‘derived from’ the industrial undertaking of the assesse, not eligible for deduction u/s 80IB - HC

2. Deduction u/s 80IC - Customer advances written back as income derived from industrial undertaking - Revenue could not show us any reason that why above sum cannot be...

3. Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from...

4. 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...

5. Exclusion of interest income for the purpose of computing the deduction u/s 32AB - interest derived by the industrial undertaking of the assessee on deposits made with...

6. The case involves a dispute regarding the eligibility of deduction u/s 80IB for profits derived from repairs and maintenance services of moulds in an industrial...

7. Disallowance of deduction u/s 80IC - Subsidy - nexus between the profits and gains of the industrial undertaking or business - The assessee succeeds and claim of the...

8. Nature of income - Subsidy received under the Industrial Promotion Policy of the Assam Government - the VAT subsidy received by it for undertaking substantial expansion...

9. Deduction u/s 80IA - tariff subsidy specifically given to meet the cost of power of the industrial undertaking - deduction allowed in respect of operational subsidy u/s - HC

10. VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the...

11. Whether interest received from the debtors or customers on delayed payment was income derived from the Industrial Undertaking and Deduction under Section 80HH and 80I -...

12. The resultant profits and gains, derived from, or derived by, an industrial undertaking, because of the insurance subsidy, have to be treated as deductible in terms of...

13. Nature of assessee – Industrial undertaking or not – the film production unit or Company is an industrial undertaking and therefore section 80IB of the Act can be...

14. Deduction u/s 80IB and 80IC - Transport subsidy - Power subsidy - Interest subsidy - Insurance subsidy - are operational in nature - related to the production -...

15. Income derived from letting out of property to the tenants - Industrial park / SEZ unit - in the case of an undertaking which develops, develops and operates or...