Home Highlights March 2016 Year 2016 This

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1. Deduction u/s 80IA - whether assessee fulfilled the condition of sub-Section (4)(i)(b) of Section 80IA? - partnership firm was converted into a company - For the...

2. 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...

3. Deduction u/s 80IA - operation and maintenance activities - The important aspect to be taken note of is the use of the expression 'or'. Therefore, an enterprise,...

4. Exemption u/s 11 - receipts from the business of developing, coordinating plants and implementing the rail infrastructure projects, etc. for Indian Railways, exceeded...

5. Regarding the deduction u/s 80IA, the Tribunal affirmed that ground handling and cargo handling services provided by the assessee were covered within the scope of...

6. The assessee developed a Mechanised Coal Handling System as per an agreement with KSPL, a Special Purpose Company of ISPL, which had an agreement with the Government of...

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

8. TP Adjustment - PLI computation - if rental expenditure is considered as an operating expenditure, then the reimbursement should be set off against the rental...

9. Deduction u/s 80IA(4) - container terminal developed by assessee - The assessee was vested with the authority of developing and providing infrastructural facilities for...

10. Deduction u/s. 80IAB - developing SEZ by itself is the business contemplated u/s. 80 IAB of the Act and the SEZ itself provides that the lease rental income generated in...

11. Disallowance of deduction u/s 80IB(11A) - On perusal of tax audit report, the nature of the business activity of the assessee has been shown as cold storage services and...

12. Disallowance of excess depreciation of electrical installation - since the assessee is engaged in manufacturing of cotton yarn and the electrical installation for which...

13. Deduction u/s 80IA - treating the assessee-company as a ‘Contractor’ and not ‘Developer’ by the Department - merely because in the agreement for development of...

14. TP Adjustment - ESOP considered as operating cost by the Ld.AO/TPO - TPO failed to consider the basic fact that, purchase cost of the shares of foreign AE is charged...

15. TP Adjustment - ALP determination - depreciation - operating cost - since the assets are used by the assessee with respect to the services provided to AE and hence the...