Computation of deduction u/s 10AA - The Tribunal examined the ...

Case Laws Income Tax

May 3, 2024

Computation of deduction u/s 10AA - The Tribunal examined the details provided by the assessee regarding expenses incurred in foreign currency. It noted that the Assessing Officer had excluded these expenses without thorough examination. The Tribunal referred to a previous decision by the Madras High Court in a similar case and held that the order of the Commissioner of Income Tax (Appeals) was not justified in confirming the exclusion. It allowed the appeal on this ground.

View Source

← Previous Next →

Computation of deduction u/s 10AA - The Tribunal examined the ...

Case Laws Income Tax

May 3, 2024

You may also like:

Deduction u/s 80G - deductions are duplicate in nature - The non-obstinate clause does not impinge the powers of Assessing Officer to examine deductions claimed after...

The ITAT addressed various issues: disallowance u/s 40(a)(ia) for year-end provisions, deduction u/s 10AA for interest income, TDS u/s 195 for subscription fees, foreign...

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...

Deduction claimed u/s 10AA - the relief to the assessee under section 10AA cannot be denied merely on the reasoning that the raw material, processing activities resulted...

Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

The case pertains to the rejection of provisional registration u/ss 12AB/80G for charitable activities. The Commissioner of Income Tax (CIT) concluded that the assessee...

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

Deduction u/s 80IC - manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures - products manufactured by the assessee come...

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...

The assessee claimed weighted deduction u/s 35(1)(ii) for donation made to M/s Shri Arvindo Institute of Applied Scientific Research Trust at the end of the year. The...

Deduction u/s 10AA - Income from gold dust - the AO himself has not denied the fact that the income from sale of gold dust is part of the business income of the assessee....

Allowance of of deduction u/s.10AA - whether the export sales as supporting manufacturer, Sales to EOUs and SEZs are eligible for deduction u/s.10AA? - when as S.10AA...

Regarding the deduction u/s 80IA, the Tribunal affirmed that ground handling and cargo handling services provided by the assessee were covered within the scope of...

Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

Quick Updates: