Read all Latest Updates on and about Section 80IC of the Income Tax Act

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Govt. Approval Not Mandatory for Enterprises Claiming S. 80IC Income Tax Deductions in Notified Special Zones: Delhi HC [Read Order]

Kavi Priya

In a recent judgment, the Delhi High Court ruled that enterprises claiming deductions under Section 80IC of the Income Tax Act are not required to...

Assessee filed Form 10CCB before Completion of the 143(1) proceedings: ITAT allows Assessee’s Appeal...

Incorrect Rejection of S.80IC Deduction due to Village Name Discrepancy: ITAT Allows Appeal [Read...

Rental Income from Factory Building Taxed as Income from House Property, Eligible for Deduction u/s...

Eligible Industrial Undertakings Carrying out Manufacturing Activity essential requisite to Claim...

ITAT allows Depreciation claim u/s 80IC for Building, Factory, Furniture and Plant Machinery Blocks [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) of Delhi, allowed depreciation claim under Section 80IC of Income Tax Act, 1961, for building, furniture, and plant machinery blocks. The assessee is a...

Printing and Binding of Books Amounts to Manufacturing Activity, Deduction u/s 80IC of the Income Tax Act: Delhi HC [Read Order]

The Delhi High Court has held that printing and binding of books amounts to manufacturing activity and deduction under section 80IC of the Income Tax Act, 1961. The appellant/revenue seeks...

ITAT deletes Addition u/s 80IC on ground of Section 92BA being omitted by the Finance Act, 2017 [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal held that the issue is no longer res integra in view of the decision of the Hon’ble Karnataka High Court in the case of PCIT vs. Texport...

Calcutta HC upholds Deduction U/s 80IC of Income Tax Act for Substantial Expansion in Subsequent years unless initial year Relief Withdrawn [Read Order]

The High Court of Calcutta has held that the deduction under Section 80IC of the Income Tax Act, 1961 for substantial expansion cannot be rejected for subsequent assessment years unless the relief...

Deduction u/s 80IC of IT Act shall not be denied if Assessee forms New Firm in same Name at same Premises: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that deduction under Section 80IC of Income Tax Act 1961 should not be denied if assessee form a new firm in the same...

ITAT Weekly Round-Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from February 26 to March 4, 2023. ...

Deduction u/s 80(1C) Allowable If Form 10CB filed before Final Assessment Order: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench, has recently, in an appeal filed before it, held that deduction u/s 80(1C) is allowable,if form 10CB is filed before final assessment order....