S. 80IB : Industrial undertakings-Subsidy-Profits derived from business-Subsidies given by Government to enable sale to Farmers at, or below, maximum retail price-Form part of business profits-Subsidy eligible for deduction. [S. 2(24)(xvii), 148]
S. 80IB : Industrial undertakings-Subsidy-Profits derived from business-Subsidies given by Government to enable sale to Farmers at, or below, maximum retail price-Form part of business profits-Subsidy eligible for deduction. [S. 2(24)(xvii), 148]
S. 80IA : Industrial undertakings-Infrastructure development-Fair market value-Price sold by State Electricity Board to consumers-Not at which the price is supplied by assessee to State Electricity Board. [S. 80IA(8)]
S. 80IA :Industrial undertakings-Infrastructure development-Abnormal profits-Eligible for deduction. [S.10B(7), 80IA(7), 115JB]
S. 80IA: Industrial undertakings-Infrastructure development-Failure to file Form No 10CCB-Disallowance is justified.
S. 80HHC : Export business-Book profit-Eligible for entire deduction on export. [S. 115JB Expln. (iv).]
S. 80GGC : Contribution-Any person-Political parties-Evidence not provided-Funds transferred to proprietor of firms and further transferred to other entities-Financial manoeuvre to legalize illicit money and to evade taxes-Disallowance is justified.
S. 80G : Donation-Charitable objects-Expenses are less than the prescribed percentage-Directed to allow the approval. [S. 80G(5)(vi)]
S. 80G : Donation-Charitable institution-No allegation that the Trust did not fulfil conditions required Under Section 80G(5)(vi)-Denial of approval is not valid. [S. 12AA, 80G(5)(vi)]
S. 74 : Losses-Capital gains-Amalgamation-Carry forward and set off-Long-term capital loss of amalgamating company-The benefit of carry forward and set-off has to be allowed to the amalgamated company-.Section 72A applies only in respect of accumulated losses and unabsorbed depreciation under the head Profits and gains of business or profession. [S. 72A]
S. 74 : Losses-Capital gains-Carry forward and set off by non-Resident-Capital losses which have been brought forward from earlier years have to be carried forward to the subsequent years without setting off the same against the capital gains of the relevant assessment year-DTAA-India-Mauritius. [S. 90, Art. 13(4)]