Restriction on certain deductions limits allowable company tax incentives to a capped share of pre-incentive income. Section 80VVA caps aggregate deductions available to a company under a specified list of incentive provisions at a fixed proportion of the pre-incentive total income. Deductions are allowed in the order the provisions are listed until the cap is reached. Any portion of a deduction disallowed solely because of the cap is carried forward and treated as part of the deduction admissible under that provision in the next assessment year and succeeding years until allowed.
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.
Restriction on certain deductions limits allowable company tax incentives to a capped share of pre-incentive income.
Section 80VVA caps aggregate deductions available to a company under a specified list of incentive provisions at a fixed proportion of the pre-incentive total income. Deductions are allowed in the order the provisions are listed until the cap is reached. Any portion of a deduction disallowed solely because of the cap is carried forward and treated as part of the deduction admissible under that provision in the next assessment year and succeeding years until allowed.
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