Thursday, September 13, 2012

S. 80HH & 80-I do not require maintenance of seperate books


S. 80HH & 80-I do not require maintenance of accounts unit wise and deduction can be claimed on the basis of consolidated accounts. To avoid litigation, the assessee should get the working of unit wise net profits certified by the Chartered Accountant.

CIT vs. Bongaigaon Refinery and Petrochemical Ltd (Supreme Court)

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Delhi HC holds 10% pre-deposit requirement for penalty-only appeals inapplicable where SCN was issued before amendment

  This Tax Alert summarizes a recent ruling of the Delhi High Court (HC) [1] on whether the newly introduced pre-deposit requirement for fi...