Tag: deduction u/s 80IC
Revised claim of deduction u/s 80IC allowed without revised return Judgment of Supreme Court applies to AO not appellate Authorities ABACUS Case Law CitationABCAUS 3373 (2020) (08) ITAT Important case law relied upon by the parties:Goetz India Ltd In the instant case, the assessee had challenged the order …
No concealment penalty for bonafide error of chartered accountant in claiming wrong deduction u/s 80IC by choosing incorrect initial assessment year ABCAUS Case Law Citation: ABCAUS 2864 (2019) (04) ITAT Important Case Laws Cited/relied upon by the parties Price Water Coopers reported in 348 ITR 306 Zoom Communication …
Inclusion of period of deduction u/s 80-IA and 80-IB for counting ten years for Section 80-IC is limited to industrial undertakings set-up in North-Eastern Region-Supreme Court ABCAUS Case Law Citation: ABCAUS 2341 (2018) (05) SC The assessee was a manufacturer in Himachal Pradesh and being an industrial undertaking, …
Section 80-IC deduction unavailable on fixed deposit interest–High Court. The benefit is available only for carrying on business mentioned in sub-section (2) and profits and gains derived therefrom. ABCAUS Case Law Citation: ABCAUS 2131 (2017) (11) HC The Challenge/Grievance: The appellant assessee was aggrieved by the judgment …
Deduction u/s 80IC denied for delay in filing return allowed by High Court. CBDT Order u/s 119(2)(b) denying to condone the delay of 46 days set aside. ABCAUS Case Law Citation: ABCAUS 2059 (2017) (09) HC The Grievance: The Petitioner firm had filed the instant petition under …