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Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Nature of income - Subsidy received under the Industrial Promotion Policy of the Assam Government - the VAT subsidy received by it for undertaking substantial expansion at their unit was in the nature of capital receipt not liable to tax, since the object of granting of subsidies was to bring about industrial development, encourage fixed capital investment and generate employment in the State of Assam. - AO directed to deduct the VAT subsidy both while computing income under normal computational provisions and book profit u/s 115JB - AT
Nature of income - Subsidy received under the Industrial Promotion Policy of the Assam Government - the VAT subsidy received by it for undertaking substantial expansion at their unit was in the nature of capital receipt not liable to tax, since the object of granting of subsidies was to bring about industrial development, encourage fixed capital investment and generate employment in the State of Assam. - AO directed to deduct the VAT subsidy both while computing income under normal computational provisions and book profit u/s 115JB - AT
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