Deduction claimed u/s 80IA(4)(iv)(c) - expenditure required to ...

Court Rules Increase in Plant Value Not Needed for Section 80IA(4)(iv)(c) Tax Deduction on Renovation Costs.

February 17, 2021

Case Laws Income Tax HC

Deduction claimed u/s 80IA(4)(iv)(c) - expenditure required to be capitalized or not - nature of expenditure on renovation and modernization in the books of accounts - substantial renovation and modernization - The provision does not mandate that there has to be increase in the value of plant and machinery in the books of accounts. Therefore, such a requirement, which is not prescribed in the language of the provision cannot be read into it. - HC

View Source

← Previous Next →

Deduction claimed u/s 80IA(4)(iv)(c) - expenditure required to ...

Court Rules Increase in Plant Value Not Needed for Section 80IA(4)(iv)(c) Tax Deduction on Renovation Costs.

February 17, 2021

Case Laws Income Tax HC

You may also like:

Deduction claimed u/s 80IA(4)(iv)(c) - There is no requirement of capitalization of expenditure on renovation and modernization in the books of accounts is condition...

HC upheld validity of Rule 36(4) of CGST Rules, dismissing constitutional challenge. Court determined Rule 36(4) derives authority from Section 16 of CGST Act and...

The High Court addressed the issue of whether "power sprayers" fall under Schedule-I of the Rajasthan Value Added Tax Act, taxable at 4%, or under Schedule-IV at a...

Verification Certificate - Certificate under provisions of rule 114(4) of Income Tax Rules, 1962

The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

Supplementary refund of unutilized input tax credit pertaining to Compensatory Cess - Section 164 of the GST Act empowers the Government to frame rules. Refund of...

Method of Valuation - prototype vehicles - goods cleared from the factory on payment of duty under self invoice on the comparable value of the similar vehicle applying...

Deduction u/s 80IA(4) on wind mills and solar power plants - Whether each windmill and solar power plant installed by the assessee should be considered as separate...

Undervaluation of goods - FOS and Sucralose when cleared to related parties and M/s Surya Herbals by not following CAS-4 valuation method as provided u/r 8 of Central...

Denial of claim of deduction u/s 80-IA(4)(iv)(c) - assessee is an electricity distribution company - the expression “undertakes substantial renovation and modernisation”...

Assessment of turnover of the applicant as per Section 4(3) of the VAT - levy of tax on turnover of sale has to be done in the manner provided in Section 4(3) of the Act...

CENVAT Credit - Removal of capital goods - Depreciation - Deduction of 2.5% to be applied from the date of availing credit, not from the date of receiving or putting to...

CENVAT Credit - duty paying invoices - performa invoices - the documents required under the Rule 9 are not confined to merely invoices but these may be any documents,...

Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or...

The High Court held that the value of free diesel supplied by the service recipient to the Goods Transport Agency (GTA) service provider cannot be included in the...

Quick Updates: