Deductions Under Income Tax Act, 1961

Supreme Court clarifies deduction under Section 80IA of Income Tax Act: Jindal Steel & Power Ltd. vs. Commissioner of Income Tax (2023)

/ Deductions Under Income Tax Act, 1961, Electricity (Supply) Act, 1948, Electricity (Supply) Act, 1948 with Section 43, Electricity (Supply) Act, 1948 with Section 43A, Income Tax Act, 1961, Income Tax Act, 1961 with Section 143(3), Income Tax Act, 1961 with Section 80IA

Supreme Court on Section 80IA of Income Tax Act: Recomputation of Deduction (2023) LEGAL ISSUE: Recomputation of deduction under Section 80IA of the Income Tax Act, 1961, specifically regarding the determination of market value for electricity generated by captive power plants. CASE TYPE: Income Tax Case Name: Commissioner of Income Tax vs. M/s Jindal Steel […]

Supreme Court clarifies deduction under Section 80IA of Income Tax Act: Jindal Steel & Power Ltd. vs. Commissioner of Income Tax (2023) Read Post »

Supreme Court settles deduction of lease equalization charges in income tax: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (24 April 2018)

/ Abhay Manohar Sapre, Companies Act, 1956, Companies Act, 1956 with Section 211, Deductions Under Income Tax Act, 1961, Income Tax Act, 1961, Income Tax Act, 1961 with Section 145, Judges, R.K. Agrawal

Supreme Court Allows Lease Equalization Charges Deduction: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (2018) LEGAL ISSUE: Whether lease equalization charges can be deducted from lease rental income under the Income Tax Act, 1961, based on a Guidance Note issued by the Institute of Chartered Accountants of India (ICAI). CASE TYPE: Income Tax

Supreme Court settles deduction of lease equalization charges in income tax: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (24 April 2018) Read Post »

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