Daily Archive: Tuesday, November 29, 2016

Interest on loan for declaring dividend allowable deduction u/s 36(1)(iii) – High Court

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Interest on loan for declaring dividend allowable deduction u/s 36(1)(iii) even in absence of profits/reserves and the treatment of such dividend as loans in the books of the company – High Court ABCAUS Case Law Citation: ABCAUS 1066 (2016) (11) HC Assessment Year: 2008-09 Date/Month of Judgment/Order: 07-11-2016 Important Case

Subsidies received by Industrial Undertaking eligible deductions us 80-IB 80-IC if towards reimbursement of transport power and Interest cost.

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Subsidies received by Industrial Undertaking eligible deductions us 80-IB 80-IC if towards reimbursement of transport power and Interest cost.  CIRCULAR NO. 39/2016 F.No.279/Misc./140/2015/ITJ Government of India Ministry of Finance Central Board of Direct Taxes ****** New Delhi, Dated 29th November, 2016 Subject: Transport, Power and Interest subsidies received by

No Penalty 271(1)(c) if primary information furnished with return of income as held by Supreme Court

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No Penalty 271(1)(c) if primary information is furnished with ITR as held by Supreme Court in the case of Reliance Petroproducts Pvt Ltd-ITAT ABCAUS Case Law Citation: ABCAUS 1065 (2016) (11) ITAT Assessment Year: 2008-09 Date of Judgment: 28-11-2016 Important Case Laws cited: Reliance Petroproducts Pvt Ltd Brief Facts
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