Home Highlights April 2016 Year 2016 This

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1. Deduction u/s 35(2AB) - Under Rule 6(7A), the Department of Scientific and Industrial Research is required to submit its report to the Income Tax Authorities in Form 3CL....

2. Claim of weighted deduction u/s.35(2AB) - The assessee has furnished Form No.3CK to the Department of Scientific and Industrial Research(DSIR) but till date the approval...

3. Disallowance of weighted deduction u/s. 35(2AB) - research and development (R&D) expenditure - The Income Tax Appellate Tribunal (ITAT) considered the arguments...

4. Deduction u/s 35(2AB) - expenditure incurred on R&D centre - AO held that in the absence of Form 3CL, such deduction is not allowable - the assessee should not be...

5. Claim of weighted deduction @ 200% made us/ 35(2AB) - need for production of Form NO.3CL - The year under consideration being AY 2014-15, the same would fall prior to...

6. Deduction u/s 80IA was allowed despite delay in filing Form 10CCB due to technical glitches on the Income Tax portal. The form was filed 1 hour 22 minutes after the due...

7. Denial of grant of the approval u/s 35(2AB) - Submission of form 3CK - portal was not functioning from 08.03.2018 - On the petitioner satisfying the respondent of the...

8. Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The...

9. Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Companies - Condonation of delay in filing of Form No. 10-IC by the assessee - The Appellate Tribunal...

10. Exemption u/s 35(2AB) - there was no approval in form No. 3CM - what is relevant to decide eligibility for weighted deduction u/s 35(2AB) is existence of R&D facility...

11. The Appellate Tribunal (ITAT) considered the denial of Foreign Tax Credit (FTC) u/s late filing of Form 67. The assessee argued that Form 67 filing is procedural, not...

12. The ITAT Delhi held that denial of Foreign Tax Credit (FTC) claim due to late filing of Form 67 after the due date of filing Income Tax Return (ITR) was not justified....

13. Deduction u/s 80IC - independent unit v/s extension of unit - the assessee has claimed wages expenses which were subject to PF, electricity expenses. Likewise, there was...

14. Weighted deduction on R&D expenditure claimed u/s 35(2AB) - Claim denied for want of requisite approval received from DSIR - If the appellant is aggrieved by the denial...

15. An existing trust had previously been granted approval u/ss 12AA and 80G of the Income Tax Act. However, instead of applying under clause (i) of the proviso to Section...