Deduction u/s 80IA - Treatment to carbon credit receipt - ...

Case Laws Income Tax

January 30, 2021

Deduction u/s 80IA - Treatment to carbon credit receipt - Section 115BBG of the Act was introduced by Finance Act, 2017 with effect from 01.04.2018, prior to which, there was no such provision - assessees were under utter confusion as to under which provision of the Act, they should make a claim for deduction and having left with no other option, had been making the claim u/s 80IA - merely because the assessee due to uncertainty in the legal position, had made a claim under Section 80IA of the Act that cannot be a reason to deny a benefit granted in favour of the assessee. - HC

View Source

← Previous Next →

Deduction u/s 80IA - Treatment to carbon credit receipt - ...

Case Laws Income Tax

January 30, 2021

You may also like:

Deduction u/s 80IA - ICD - Inland port - infrastructure facilities - deduction allowed - HC

Deduction u/s 80IA - the scope of deduction under Section 80IA of the Act is limited to determination of quantum of deduction by treating eligible business as the only...

Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

Assessment u/s 153A - claim of deduction under section 80IA(4) - Paper company or not - assessee as a SPV was a mandatory requirement of NHAI - four laning of the...

Deduction u/s 80IA on the enhanced expenditures made to sub-contractors - The issue of the claim of higher deduction on the enhanced profits has been a contentious one....

Receipts from sale of carbon credit - No asset is generated in the course of business, but it is generated due to environmental concerns. It was also found that the...

Characterization of income - Transfer of Carbon Credits - the receipt on the sale of carbon credits is liable to be treated as capital receipts, admittedly, the...

Sale of carbon credit - on the sale of excess Carbon Credits the income was received it is capital receipt and it cannot be business receipt or income - AT

Deduction claimed u/s 80IA(4)(iii) in respect of profits from industrial park known as “Salarpuria Touchstone” - Undisputedly till date the project has not been notified...

Disallowance of claim u/s 80IA - return of income was not filled as per provisions of section 139(1) - Since the assessee has made substantial compliance to claim the...

Deduction u/s.80IA - Interest and other income - the assessee is not entitled for deduction towards eligible profit u/s.80IA of the Act in respect of other income...

Disallowance on account of deduction u/s 80IA - Computation of deduction - It is only when the loss have been incurred from the initial assessment year, then the...

Eligible to claim deduction u/s 80IA - Contracts awarded to JVs - constituents of JVs are eligible to claim deduction u/s 80IA

Deduction u/s.80IA(4) - the contractor, who undertakes for road Widening of the National Highways from 2 lines to 4 lines, is eligible for deduction u/s 80IA(4) - AT

Allowance of deduction u/s 80IA - the unabsorbed depreciation set off in earlier years cannot be reduced from the profits for computing the deduction u/s 80IA - AT

Quick Updates: