Home Highlights December 2012 Year 2012 This

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1. 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....

2. 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...

3. 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...

4. The assessee provided project advisory services to Special Purpose Vehicles (SPVs) formed to execute infrastructure contracts obtained from NHAI. The assessee contended...

5. Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

6. Deduction u/s 80IA - If an assessee is entitled to certain deductions under the provisions of the Income Tax Act, the same should not be disallowed, merely because of...

7. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

8. 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...

9. 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...

10. Claim of deduction u/s 80IA - there is no question of setting off notionally carried forward unabsorbed depreciation or loss against the profits of the unit and the...

11. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

12. 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...

13. Deduction u/s 80IA - profit of Generation of electricity - notional income from savings in Low Sulphur Heavy Stock (LSHS) due to steam generation by the assessee's...

14. Delayed filling Return of income - Disallowance of deduction u/s.80IA(7) - Since the assessee- HUF was required to get its accounts audited, the case falls in...

15. Deduction u/s 80IA - merely because in the agreement for development of infrastructure facility, assessee is referred to as contractor or because if some basic...