Tag Archives: Section 80IB

Subsidies of transport, power & interest -Eligible for deduction u/s 80IB – 80IC

By | November 30, 2016

Central Board of Direct Taxes Circular No. 39/2016, Dated: November 29, 2016 [F.No.279/Misc./140/2015/ITJ] Subject: Transport, Power and Interest subsidies received by an Industrial Undertaking – Eligibility for deduction under sections 80-IB, 80-IC etc., of the Income-tax Act, 1961- Reg. The issue whether revenue receipts such as transport, power and interest subsidies received by an Industrial Undertaking/… Read More »

Retro-amendment in Sec. 80-IB won’t enable AO to reopen assessment

By | October 27, 2016

HIGH COURT OF GUJARAT Ganesh Housing Corporation Ltd. v. Deputy Commissioner of Income-tax, Circle-4 & 1 AKIL KURESHI AND A.J. SHASTRI, JJ. SPECIAL CIVIL APPLICATION NO. 13589 OF 2011 SEPTEMBER  12, 2016 R.K. Patel, Advocate for the Petitioner. Mrs. Mauna M. Bhatt, Advocate for the Respondent. JUDGMENT Akil Kureshi, J. – Petitioner has challenged a… Read More »