Deduction u/s 80IAB - development of SEZ - BOA has granted ...

Case Laws Income Tax

March 9, 2021

Deduction u/s 80IAB - development of SEZ - BOA has granted approval to the assessee. This approval has not been cancelled or suspended. It was valid. The assessee has offered a piece of land at lease rent for a period of 99 years with development charges - The receipt has been shown as income - Sister concern has already applied to the BOA Before the 31st March for approval. - It could not be doubted by referring an aspect that capital expenditure shown and capitalized under the head work-in-progress was bogus. On the basis of such an observation, deduction otherwise admissible to the assessee cannot be denied. - AT

View Source

← Previous Next →

Deduction u/s 80IAB - development of SEZ - BOA has granted ...

Case Laws Income Tax

March 9, 2021

You may also like:

Deduction u/s 80IB - development of SEZ - revenue was of the view that as per sec. 9(2) only Board of Approval is empowered to grant approval of SEZ or authorized...

Claim of deduction made u/s 10B - Development Commissioner granted the approval of 100% EOU in favour of the assessee-Company, which came to be subsequently ratified by...

Deduction u/s 80IAB - The statute or the provisions contained u/s 80IAB does not make any distinction that if the income has been derived from approved activities in...

Disallowance of deduction u/s 80IAB - income derived from 'Operation and Maintenance Activities' of SEZ - activities of the assessee being a developer, include operation...

100% EOU - The moment the decision / approval of the Development Commissioner is ratified by the Board of Approval it will relate back to the date on which the approval...

Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

Decisions taken by the Board of Approval (BoA) for Special Economic Zones (SEZs) in its 119th meeting. Some notable points: - BoA approved conversion of processing areas...

Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

Allowability of deduction u/s 35(2AB) - the application is complete in all respects and the assessee is otherwise eligible for grant of such approval, approval may take...

Deduction u/s 10AA - SEZ Unit - violation under SEZ Act, 2005 - Non submission of accounting invoices to STPI/SEZ authorities, Non approval of units by SEZ authority -...

Allowability of the deduction u/s 80-IAB with regard to car parking rental - nexus with the business carried on by the assessee - The provision of car parking services...

Disallowing employer’s contribution to superannuation fund u/s 36(1)(iv) - Application filed by the assessee is as long as in 2011 and till date there is no approval by...

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...

Benefit of exemption - Approval u/s 10(23C)(vi) was granted to trust as a whole or for specified institution only - We are in complete agreement with the ld....

Reopening of assessment u/s 147 - Validity of approval granted u/s 151 - without examining the facts on record, both the Additional CIT and CIT have granted approval...

Quick Updates: