Deduction u/s 80IB(11C) - business of running hospitals - nature ...

Hospital Pharmacy Income Eligible for Section 80IB(11C) Deduction: Understanding "Derived From" vs. "Attributable To" in Tax Benefits.

July 25, 2023

Case Laws Income Tax AT

Deduction u/s 80IB(11C) - business of running hospitals - nature of income - “derived from” vs “attributable to” - the assessee is eligible to claim deduction u/s. 80IB(11C) of the Act in respect of inhouse pharmacy maintained by the assessee within the premises of hospital. - AT

View Source

← Previous Next →

Deduction u/s 80IB(11C) - business of running hospitals - nature ...

Hospital Pharmacy Income Eligible for Section 80IB(11C) Deduction: Understanding "Derived From" vs. "Attributable To" in Tax Benefits.

July 25, 2023

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 for surplus arising from a pharmacy store run by a hospital, and the deduction of 15% on gross receipts u/s 11(1)(a). Regarding the pharmacy store, it...

ITAT ruled that pharmacy division income of appellant hospital qualifies for exemption under Section 11(1) of Income Tax Act. The tribunal determined pharmacy operations...

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...

Deduction u/s 80IB(11C) - additional income offered during survey - investment in building - excess cash found - while confirming the additions, deduction 80IB(11C) disallowed.

Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

Assessment of trust - healthcare / medical services - surplus out of Pharmacy store - charitable activity u/s 2(15) - the income accrued from Pharmacy store is...

Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from...

Exemption u/s.11 - Treatment of pharmacy income as income of charitable trust - the income from running the pharmacy which is integral part of the hospital is eligible...

Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

Deduction u/s 80P - Disallowance of deduction under section 80P of the Act in respect of “rental income” - where the assessee-bank derived the income in question from...

Exemption u/s 11 - Charitable activity - running pharmacy store in the hospital and was selling drugs and medicines to the patients through this pharmacy store - AO was...

Levy of GST - The supply of medicines and allied items provided by the hospital through the pharmacy to the in-patients is part of composite supply of health care...

Deduction u/s 80IC - Customer advances written back as income derived from industrial undertaking - Revenue could not show us any reason that why above sum cannot be...

Exemption u/s 11 - Charitable activity - running pharmacy store - income accrued there from was incidental to the dominant object of the respondent i.e., running of the...

Exemption u/s 11 - renal income - standard deduction @30% vs actual expenditure - once income of a trust/institution is computed u/s 11, whatever income derived from the...

Quick Updates: