S. 10A : Free trade zone-Carry forward losses of technology park unit and current year loss of non-Software technology park unit -Before allowing the deduction-Reimbursement of expenditure towards telecommunication expenses and foreign travel expenses incurred in foreign currency are to be excluded from total turnover and for computation of deduction.
S. 10A : Free trade zone-Providing human resources services-Entitled to deduction.
S. 10A : Free trade zone-Separate accounts need not be maintained- Undertaking starting manufacture on or after 1-4-1995 must have 75 Per Cent. of sales attributed to export-Apportionment of expenses is held to be reasonable-Sub-contractors giving software support to assessee on basis of foreign inward remittance-Claim by sub-contractors would not affect assessee’s claim. [S. 80HHE]
S. 10(23FB) : Venture capital fund-Exemption-Distributed income from venture capital fund-Entitled to exemption. [S. 115U, 147, 148]
S. 5 : Scope of total income-Accrual of income-Cash compensatory assistance and duty drawback-Tribunal holding that liability to tax is on receipt basis and not on accrual basis. [S. 4, 80HHC, 145]
S. 4 : Charge of income-tax-Mesne profits-Interest-Derived from tenant-Assessable as revenue receipts – Insertion of section 25B is clarificatory in nature. [S. 22, 23(1), 25B, Code of Civil Procedure, 1908, S. 2(12)]
S. 4 : Charge of income-tax-Accrual of income-Overdue interest on loans classified as non-performing asset-Not assessable. [S. 145]
S. 4 : Charge of income-tax-Subsidy-Electricity subsidy-Export incentive to cover cost of Indian market-Technology Upgradation Fund Scheme- Held to be capital receipt. [S. 2(24)(xvii), 28(i)]
S. 4 : Charge of income-tax-Service charges-Reassessment-After the expiry of four years-Difference between TDS certificate and amount shown-Reassessment is held to be not valid. [S. 143(2), 147, 148]
S. 4 : Charge of income-tax-Capital or revenue-Non-Compete fee- Prior to 1-4-2003-Restraining it from entering into insurance business on its own-Capital receipt. [S. 28(i)]