Search Results for "Deduction Limit"

168 result(s) found

Scroll Down To Discover

Found 168 result(s)

© Image Copyrights Juris Services & Technology

Supreme Court Allows Deductions Under Sections 80-IA and 80-HHC of Income Tax Act Without Restriction Under Section 80-IA(9) — Holds That Each Deduction Is Computed on Eligible Profits Separately and Cumulative Deduction Is Permissible Up to Gross Total Income.

The case involved a group of appeals concerning the interpretation of Section 80-IA(9) of the Income Tax Act, 1961, specifically whether an assessee w...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Revenue's Appeal in Income Tax Deduction Case Under Section 80-IA. Deduction Under Section 80-IA of Income Tax Act, 1961 is Allowed Against Gross Total Income, Not Restricted to Business Income Only, Based on Interpretation of Sections 80AB and 80-IA(5).

The dispute arose from the assessment year 2002-03 involving the Commissioner of Income Tax as appellant and M/s. Reliance Energy Ltd. as respondent. ...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Assessee in Income Tax Appeal Over TDS Disallowance. Disallowance of Rs. 57,11,625 upheld under Section 40(a)(ia) of Income Tax Act, 1961 as assessee failed to deduct tax at source on payments exceeding Rs. 20,000 per goods receipt to truck operators under Section 194C.

The dispute arose from an income tax assessment for the year 2005-2006 involving Shree Choudhary Transport Company, a partnership firm engaged in tran...

© Image Copyrights Juris Services & Technology

Bombay High Court Allows Revenue's Appeal on Deduction Limit Under Section 36(1)(viia) of Income Tax Act. The court held that deduction for provision for bad and doubtful debts is limited to 5% of gross total income, not total income after other deductions.

The Revenue appealed against the order of the Income Tax Appellate Tribunal which allowed a deduction of Rs.3,57,34,509 under Section 36(1)(viia) of t...