Tax Deductions

Supreme Court clarifies scope of Section 80-O of the Income Tax Act for services to foreign enterprises: Ramnath & Co. vs. Commissioner of Income Tax (2020)

/ A.M. Khanwilkar, Dinesh Maheshwari, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80-O, Judges, Services Rendered Outside India, Tax Deductions

Supreme Court Clarifies Deduction Under Section 80-O of Income Tax Act for Services to Foreign Enterprises Date of the Judgment: June 5, 2020 Citation: (2020) INSC 415 Judges: A.M. Khanwilkar, J., Dinesh Maheshwari, J. Can income earned by Indian companies for services provided to foreign enterprises qualify for tax deductions under Section 80-O of the […]

Supreme Court clarifies scope of Section 80-O of the Income Tax Act for services to foreign enterprises: Ramnath & Co. vs. Commissioner of Income Tax (2020) Read Post »

Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (25 July 2019)

/ Abhay Manohar Sapre, Charitable Donations, Income Tax Act, 1961, Income Tax Act, 1961 with Section 35AC, Indu Malhotra, Judges, Tax Deductions, Tax Law

Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (2019) LEGAL ISSUE: Whether the newly inserted sub-section (7) of Section 35AC of the Income Tax Act, 1961, which disallows deductions for certain charitable donations, applies retrospectively to projects approved before its enactment. CASE TYPE: Income Tax Law

Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (25 July 2019) Read Post »

Supreme Court Remands Income Tax Case: Applicability of Section 35D of Income Tax Act to Banks (15 March 2019)

/ Abhay Manohar Sapre, Appellate Procedure, Dinesh Maheshwari, High Court Appeals, Income Tax, Income Tax Act, 1961, Income Tax Act, 1961 with Section 260A, Income Tax Act, 1961 with Section 35D, Judges, Remand, Substantial Question of Law, Tax Deductions, Tax Law

Supreme Court Remands Income Tax Case: Applicability of Section 35D of Income Tax Act to Banks Date of the Judgment: 15 March 2019 Citation: 2019 INSC 251 Judges: Abhay Manohar Sapre, J., Dinesh Maheshwari, J. Can a bank be considered an industrial undertaking for tax deduction purposes? The Supreme Court of India recently addressed this

Supreme Court Remands Income Tax Case: Applicability of Section 35D of Income Tax Act to Banks (15 March 2019) Read Post »

Supreme Court Denies Deduction Under Section 80-O of Income Tax Act: B.L. Passi vs. Commissioner of Income Tax (24 April 2018)

/ Abhay Manohar Sapre, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80-O, Judges, R.K. Agrawal, Tax Deductions, Technical Services

Supreme Court Denies Deduction Under Section 80-O of Income Tax Act: B.L. Passi vs. Commissioner of Income Tax (2018) LEGAL ISSUE: Whether the assessee is entitled to a deduction under Section 80-O of the Income Tax Act, 1961 for providing commercial and industrial information to a foreign company. CASE TYPE: Income Tax Law Case Name:

Supreme Court Denies Deduction Under Section 80-O of Income Tax Act: B.L. Passi vs. Commissioner of Income Tax (24 April 2018) Read Post »

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