Section 80-IB deduction does not reduce profits for computing Section 80HHC deduction; matter remanded. Issue Whether the restriction under Section 80-IA(9) requires the deduction under Section 80-IB to be reduced from business profits before computing the Section 80HHC deduction, or if it merely restricts the final allowability of the total deductions. Facts For the assessment… Read More »
Deduction under Section 80-IB excludes DEPB/duty drawback; Section 80-IA vs 80-HHC computation issue is remanded. Issue Issue 1: Whether the relief under Section 80-IA must be deducted from business profits before computing the export deduction under Section 80-HHC, and whether this needs to be re-evaluated based on recent Supreme Court precedent. Issue 2: Whether incentives… Read More »
IDBI Bank Suvidha Tax Saving Fixed Deposit IDBI Bank Suvidha Tax Saving Fixed Deposit From Download The IDBI Bank Suvidha Tax Saving Fixed Deposit allows Indian residents to claim tax deductions under Section 80C of the Income Tax Act. [1, 2] Claim Tax Benefits Section 80C: Invest up to ₹1.5 Lakh per financial year to… Read More »
IDBI Bank Fixed / Recurring Deposit Form ( for existing Customers ) IDBI Bank Fixed / Recurring Deposit Form ( for existing Customers ) Download The key points from the IDBI Bank Fixed / Recurring Deposit Form for Existing Customers are structured below for quick scanning: Core Deposit Types Available Fixed Deposits: Simple Fixed Deposit,… Read More »
IDBI Bank Account Opening Form for Non Individuals IDBI Bank Account Opening Form for Non Individuals from Download The key points from the IDBI Bank Account Opening Form for Non-Individuals are organized below for quick scanning: Core Application Rules Writing Format: Must be filled strictly using CAPITAL LETTERS and BLACK INK only (Account-Op… p. 1).… Read More »
IDBI Bank Application form for Deletion of Accounts Grouped under Kutumb Family Banking IDBI Bank Application form for Deletion of Accounts Grouped under Kutumb Family Banking Download The key points from the IDBI Bank “Kutumb” Family Banking account deletion request form are structured below for quick review: Core Purpose Removing Accounts: This form is used… Read More »
IDBI Bank Application form for Grouping / Addition of Accounts under Kutumb Family Banking IDBI Bank Application form for Grouping / Addition of Accounts under Kutumb Family Banking Download The key points from the IDBI Bank “Kutumb” Family Banking grouping application form are structured below for quick review: Core Purpose Combined Balance Benefits: Allows multiple… Read More »
Long-term capital losses can be set off against capital gains arising from depreciable assets. Issue Whether the deeming fiction under section 50, which treats gains from depreciable assets as short-term capital gains, converts the underlying long-term asset into a short-term asset, thereby barring the set-off of current year and brought forward long-term capital losses under… Read More »
Reassessment order is invalid as a mere change of opinion on already examined cash deposits. Issue Whether the reassessment proceedings and subsequent addition under section 69A of the Income-tax Act, 1961 were valid when the specific issue of cash deposits had already been examined and accepted during the original assessment under section 143(3). Facts For… Read More »
Cash deposits are fully explained by a co-owner’s accepted advance and verified bank withdrawals Issue Whether a Section 69A addition for unexplained cash deposits totaling ₹48 lakhs can be sustained when a co-owner’s tax proceedings have already validated the primary source of the funds and the remaining deposits are backed by documented bank withdrawals. Facts… Read More »