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No IT Deduction If Assessee purchases Another entities’ Business Unit including plant & Machinery to Form a Separate Industrial Undertaking: Allahabad HC
A division bench of the Allahabad High Court recently ruled that the benefit of Section 80IB of the Income Tax Act, 1961 is not available to assessee...
![Cochin International Airport is Eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Cochin-International-Airport.jpg "Cochin International Airport is Eligible for Income Tax Deduction u/s 80-IA: Kerala HC [Read Judgment]")
Company can avail IT Deduction In Respect of Income from Generation of Electricity Which Was Captively Consumed: Rajasthan HC [Read Judgment]
In CIT, Ajmer v. M/s. RSWM Limited, a division bench of the Rajastan High Court held that the Assessee can avail the Benefit of s. 80-IA of Income Tax Act in respect of income from generation of...
![Company can avail IT Deduction In Respect of Income from Generation of Electricity Which Was Captively Consumed: Rajasthan HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Company can avail IT Deduction In Respect of Income from Generation of Electricity Which Was Captively Consumed: Rajasthan HC [Read Judgment]")
![SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]")
Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]
A two-judge bench of the Supreme Court of India today ruled that "premium" collected by a Company on its subscribed share capital is not “capital employed in the business of the Company" within the...
![Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]")
Possession Certificate from Co-Operative Society is valid proof for allowing Income Tax Deduction for Home loans: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal held that in order to claim deduction under section 24(2) of the Income Tax Act, 1961, the assessee need not submit the...
![Possession Certificate from Co-Operative Society is valid proof for allowing Income Tax Deduction for Home loans: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/ITAT-Ahmedabad.jpg "Possession Certificate from Co-Operative Society is valid proof for allowing Income Tax Deduction for Home loans: ITAT Mumbai [Read Order]")