Invoking Section 80IA(10) while denying benefit of Section 80IC ...

High Court Justifies Denial of Section 80IC Benefits Due to Suspected Profit Inflation u/s 80IA(10.

December 18, 2015

Case Laws Income Tax HC

Invoking Section 80IA(10) while denying benefit of Section 80IC - As seen from the sale invoice there is definitely a reason to believe that assessee has inflated the profits in eligible unit because the same product is being sold from both the units for almost identical price - benefit was rightly denied - HC

View Source

← Previous Next →

Invoking Section 80IA(10) while denying benefit of Section 80IC ...

High Court Justifies Denial of Section 80IC Benefits Due to Suspected Profit Inflation u/s 80IA(10.

December 18, 2015

Case Laws Income Tax HC

You may also like:

Deduction u/s 80IB - Whether Ld.CIT(A) can re-estimate average profit @ 38.40%? - The powers given to assessing officer under sub-section 8 of section 80IA or 80IA(10)...

Denial of benefit u/s 115BAA - while filing its return of income as it was unable to upload Form 10-IC due to technical glitches - Scope of CBDT circular - Despite the...

Benefit of the provisions of Section 10 (23C)(iiiab) - There is a sweeping difference in according the any assessee to the provisions of Section 12AA and Section...

Deduction u/s 10A - Application of section 80IA(10) - claim excess deduction showing excessive (extra ordinary) profit - revenue arising from its oversees Associated...

Deduction u/s 10(23C) – activities of the Board for educational purposes - profit motive - huge profits and surplus income - benefit of exemption denied - AT

Grant of benefit under Section 10(20) - When even respondent/Assessee never claimed the benefit under Section 10(20) of the Income Tax Act, 1961, the High Court is not...

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...

HC reversed Tribunal's ruling on Section 80IC deduction eligibility. Unlike Section 80IA, Section 80IC(2)(b)(ii) does not mandate agreement with Central/State Government...

The ITAT considered a case involving denial of exemption u/s 10(38) for alleged bogus LTCG. The assessee invested in shares of a company deemed unreliable due to...

Deduction u/s 80IA - More than ordinary profit shown by the assessee under section 80IA(10) - Admittedly, in the case on hand the assessee is showing higher amount of...

Benefit of deduction u/s 80IA - portion of the interest attributable on the bank loan - loan not used for business purpose - Contention of the AO that this was a...

ITAT held taxpayer eligible for new tax regime under s115BAC despite initially filing return under old regime. Filing Form 10-IE is directory rather than mandatory,...

Validity of reassessment proceedings questioned due to delayed digital submission of Form 10. Emphasis on due disclosure over procedural digital filing requirements....

Delayed filling Return of income - Disallowance of deduction u/s.80IA(7) - Since the assessee- HUF was required to get its accounts audited, the case falls in...

Phrase ‘more than ordinary profits’ referred in section 80IA(10) is different from ‘arm’s length price’ as referred u/s 92C. - AT

Quick Updates: