deducting tax at source u/s. 195
Deduction u/s. 10A, 10AA in respect of onsite 7 8
activities
Deduction u/s. 80JJAA ... Revenue's 3 (Revenue's
appeal) appeal)
Deduction u/s. 10AA in interest income etc. 2 (Revenue's 2 (Revenue
Appeals) erred in allowing the deduction under section 10AA of the Act ignoring
the facts that the assessee failed in filing Form 56F along with ... without correctly appreciating the fact that while calculating the exemption u/s
10AA the reasonableness of the profits from the eligible business is also
restricting the exempted income
claimed by the assessee under section 10(10AA) to Rs. 300000.00 on the basis
of erroneous interpretation of statute. Such ... leave
encashment received in full as per provision of section 10(10AA)(ii) . In the
proceeding before CPC the assessee contended that leave encashment
amount
giving exemption to the Assessee u/s 10 (10AA) (ii) of the Act
211-Chd-2023 -
Shri Sathish Kumar Thakur, Panchkula ... 10AA )(i), as claimed by the Assessee. The Assessee
claimed exemption of leave encashment of Rs. 18,13,500/-.
2. The facts are that
justified while restricting the claim amount to Rs. 300000 u/s 10(10AA) and
rejecting the amount to Rs. 397100.00 out of Rs. 697100.00 which ... being leave encashment received as exempt u/s 10(10AA) of the
Act. However, the AO, CPC while processing the return of income has
allowed
order of AO u/s.154
restricting the exemption u/s.10(10AA)(i) to maximum Rs.3 Lakhs only on account of leave
encashment ... claimed as exempted in entirety under the provision of section
10(10AA)(i) of the Act in the return filed for the year under consideration
Section 6 in The Finance Act, 2023
6. In section 10AA of the Income-tax Act, with effect from the 1st day of April
relief of declaration by
this writ court that Explanation to Section 10AA (1) of the Income Tax Act,
1961, inserted by Finance Act, 2017 , inserted ... authority
concerned to consider the petitioners' claim of deduction under Section 10AA of
the Income Tax Act, 1961, without applying the aforesaid Explanation.
Facts
issue concerning the claim of the respondent/assessee
for deduction under Section 10AA of the Income Tax Act, 1961 [in
short ... before adjusting deduction claimed under Section 10AA of the 1961 Act,
amounting to Rs.14,81,52,422/-. The respondent/assessee, thus, pegged its
Signature
allowability
of the appellant's claim for deduction under Section 10AA
was debatable where two or more views are possible, and
thus the assessment ... that it was noticed from the records that the deduction
under Section 10AA of the IT Act was disallowed in assessee's
own case
