Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Deduction for new industrial, ship and hotel profits tied to capital employed, with detailed computation, eligibility, and carry forward rules. Section 80J permits a deduction from profits of newly established industrial undertakings, ships and hotel businesses equal to a specified rate of the capital employed, allowed for the initial assessment year and a limited number of succeeding assessment years. The section prescribes detailed computation of capital employed (asset values, deduction of borrowed moneys, adjustments for non-business investments), eligibility conditions for undertakings, ships and hotels, carry-forward and set-off of deficiencies for limited years, audit requirements for non-corporate claimants, market-value adjustments for transfers between businesses, and assessing officer and Central Government powers to limit or exclude the exemption.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for new industrial, ship and hotel profits tied to capital employed, with detailed computation, eligibility, and carry forward rules.
Section 80J permits a deduction from profits of newly established industrial undertakings, ships and hotel businesses equal to a specified rate of the capital employed, allowed for the initial assessment year and a limited number of succeeding assessment years. The section prescribes detailed computation of capital employed (asset values, deduction of borrowed moneys, adjustments for non-business investments), eligibility conditions for undertakings, ships and hotels, carry-forward and set-off of deficiencies for limited years, audit requirements for non-corporate claimants, market-value adjustments for transfers between businesses, and assessing officer and Central Government powers to limit or exclude the exemption.
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