Deductions

Supreme Court clarifies scope of deduction under Section 80-IA of the Income Tax Act in power generation business: Commissioner of Income Tax vs. Reliance Energy Ltd. (28 April 2021)

/ Deductions, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80-IA, Income Tax Act, 1961 with Section 80AB, Judges, L. Nageswara Rao, Vineet Saran

Supreme Court Clarifies Deduction Under Section 80-IA of Income Tax Act: Reliance Energy Ltd. vs. Commissioner of Income Tax (2021) Date of the Judgment: 28 April 2021 Citation: 2021 INSC 243 Judges: L. Nageswara Rao, J. and Vineet Saran, J. Can deductions under Section 80-IA of the Income Tax Act be limited to ‘business income’, […]

Supreme Court clarifies scope of deduction under Section 80-IA of the Income Tax Act in power generation business: Commissioner of Income Tax vs. Reliance Energy Ltd. (28 April 2021) Read Post »

Supreme Court Upholds Disallowance of MODVAT Credit as Deduction: Maruti Suzuki India Ltd. vs. Commissioner of Income Tax (2020)

/ Ashok Bhushan, Central Excise Act, 1944, Central Excise Rules, 1944 with Rule 2(3), Deductions, Income Tax Act, 1961, Income Tax Act, 1961 with Section 43B, Judges, MODVAT Credit, Navin Sinha

Supreme Court Upholds Disallowance of MODVAT Credit as Deduction: Maruti Suzuki India Ltd. vs. Commissioner of Income Tax (2020) LEGAL ISSUE: Whether unutilized MODVAT credit can be claimed as a deduction under Section 43B of the Income Tax Act. CASE TYPE: Income Tax Case Name: Maruti Suzuki India Ltd. vs. Commissioner of Income Tax Judgment

Supreme Court Upholds Disallowance of MODVAT Credit as Deduction: Maruti Suzuki India Ltd. vs. Commissioner of Income Tax (2020) Read Post »

Supreme Court settles deduction calculation under Section 80HHC for export businesses: M/s. Mysodet (P) Ltd. vs. Commissioner of Income Tax, Bangalore (2008)

/ B. Sudershan Reddy, Deductions, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80HHC, Judges, S.H. Kapadia

Introduction Date of the Judgment: September 03, 2008 Citation: Civil Appeal No. 5475 of 2008 (Arising out of SLP(C) No. 7323 of 2007) Judges: Justice S.H. Kapadia and Justice B. Sudershan Reddy How should deductions be calculated for export businesses under Section 80HHC of the Income Tax Act when a company has both export and

Supreme Court settles deduction calculation under Section 80HHC for export businesses: M/s. Mysodet (P) Ltd. vs. Commissioner of Income Tax, Bangalore (2008) Read Post »

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