Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Sheo Shakti Coke Industries v. ACIT (2021) 91 ITR 231 / (2022) 192 ITD 463 (Kol.)(Trib.)

S. 80IC : Special category States-Estimate of GP at 40 percent of total turnover as against GP disclosed at 57-01 percent-Taxed difference of 17.01 as income from other sources and denied the exemption-Order of CIT(A) is affirmed. [S. 56, 145 (3)]

Samrat Plywood Ltd. v. ACIT 210 TTJ 743 (Chd.)(Trib.)

S. 80IC : Special category States-Set off loss-Initial assessment year-Assessment year 2007-08 is held to be initial assessment year-loss could be set off against profit of the eligible unit in the assessment year 2008-09-Reassessment was quashed. [S. 80IA(5), 8OIC(7), 147, 148]

DCIT v. Pool Thevar Marimuthu (Prop: M/s. Arun Enterprises), (2021) 213 TTJ 804 (Chennai)(Trib.)

S. 80IC : Special category States-Splitting up or reconstruction of business-Diversified its business to new products and product line-Eligible for deduction. [S. 800IA(3)]

Dy. CIT v. Daawat Foods Ltd. (2021) 91 ITR 110 (Delhi)(Trib.)

S. 80IB(11A) : Undertaking-Business of processing, preservation and packing of fruits or vegetable eligible-Agricultural produce-handling, storage and transportation of food grains harmoniously interrelated as a single activity-Entitled to deduction.

DCIT v. Sahara India Sahkari Awas Samiti Ltd. (2021) 213 TTJ 863 / 205 DTR 297 / (2022) 193 ITD 19 (Delhi)(Trib.)

S. 80IB(10) : Housing projects-Restriction on extent of commercial space in housing project imposed by way of amendment to section 80IB(10) w.e.f. 01.04.2005 does not apply to housing projects approved before 01.04.2005 even though completed after 01.04.2005.

DCM Shriram Consolidated Ltd. v. ITO. (20021) 201 DTR 113 (Delhi)(Trib.)

S. 80IB : Industrial undertakings-Research and development-Technology purchased from another company-Matter remanded back to Assessing Officer to examine afresh as to whether the asseseee has carried out any scientific research and development activities independent of the technology purchased from MMB. [S. 80B(8A)]

DCIT v. Balarampur Chini Mills Ltd. (2021) 211 TTJ 729 / 203 DTR 60 (Kol.)(Trib.)

S. 80IA : Industrial undertakings-Market value of power sold-Captive consumption-Purchase price of electricity in the open market paid to the State Electricity Board by the manufacturing units in uncontrolled conditions is to be considered for determination of captive consumption. [S. 80IA(4) (iv), 80IA(8), 92F (ii)]

DCIT v. Sakal Papers Ltd. (2021) 91 ITR 69 (SN) (Pune)(Trib.)

S. 80IA : Industrial undertakings-Losses relating to years prior to initial year-Could not be set off against income from Windmill on or after initial year. [S. 80IA(4)]

DCIT v. Sakal Papers Ltd. (2021) 91 ITR 69 (SN) (Pune)(Trib.)

S. 80IA : Industrial undertakings-Losses relating to years prior to initial year-Could not be set off against income from Windmill on or after initial year. [S. 80IA(4)]

DCIT v. Chiripal Industries Ltd. (2021) 91 ITR 21 (SN) (Ahd.)(Trib.)

S. 80IA : Industrial undertakings-Generation of power-Amalgamation of companies-Eligible enterprise transferred before expiry of period of exemption-Transferee Company, i.e Amalgamated company entitled to deduction. [S. 80IA(4), 80IA(12)(b)]