Search Results for "weighted deduction"

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Search Results for "weighted deduction"

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High Court

Bombay High Court Upholds Tribunal's Restriction on Section 80HHB Deduction and Denial of Deduction for Foreign Tax Paid. The court held that only amounts transferred to Foreign Project Reserve Account during the previous year qualify for deduction under Section 80HHB, and tax paid abroad is not deductible under the Income Tax Act.

20 Dec 2016

The case involves an income tax reference by the Income Tax Appellate Tribunal to the Bombay High Court under Section 256(1) of the Income Tax Act, 19...

High Court

Bombay High Court Dismisses Assessee's Claim for Weighted Deduction Under Section 35B of Income Tax Act — Subcontractor Not Entitled to Export Markets Development Allowance for Services Rendered to Indian Main Contractor. The court held that the assessee, as a subcontractor to an Indian company, did not incur expenditure for its own export business and thus could not claim weighted deduction under Section 35B.

13 Oct 2016

The case involves an income tax reference under Section 256(1) of the Income Tax Act, 1961, arising from the assessment year 1979-80. The assessee, Bo...

High Court

Bombay High Court Upholds Assessee in Income Tax Reference on Section 35B Deduction and Doctrine of Merger. Commissioner Cannot Reopen Allowed Deduction After Appeal Merger Under Income Tax Act, 1961.

22 Jul 2005

The case is an income tax reference under section 256(1) of the Income-tax Act, 1961, arising from a dispute between the Commissioner of Income-tax, B...

High Court

Bombay High Court Allows Change in Stock Valuation Method and Grants Export Market Development Allowance for Packing Expenses in Income Tax Reference. The court held that a bona fide change to a more scientific method of stock valuation is permissible, and packing expenses for exports qualify for deduction under Section 35B of the Income Tax Act, 1961.

8 Sep 2016

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal for the opinion of th...

High Court

Bombay High Court Dismisses Assessee's Reference in Income Tax Case on Weighted Deduction, Capital Expenditure, and Revenue Receipt. Interest on Export Packing Credit Not Eligible for Section 35B Deduction; Professional Fees for Cement Project Held Capital Expenditure; Settlement Amount from Swiss Company Treated as Revenue Receipt.

5 Sep 2012

This judgment by the Bombay High Court pertains to an Income Tax Reference under section 256(1) of the Income Tax Act, 1961, arising from an appeal by...

High Court

Bombay High Court Dismisses Appeal by Agricultural Produce Market Committee in Subsistence Allowance Dispute — Model Standing Orders Applicable to APMC. The court held that the definition of 'industrial or other establishments' under Section 2(ii) of the Payment of Wages Act, 1936, includes the act of presenting agricultural produce, making the Industrial Employment (Standing Orders) Act, 1946 applicable to the APMC.

30 Jan 2013

The case involves a Letters Patent Appeal filed by the Agricultural Produce Market Committee (APMC), Nagpur, against the judgment of a Single Judge of...

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