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HomeDirect TaxAO Must Examine Allocation of Head Office Expenses Before Granting S. 80-IA...

AO Must Examine Allocation of Head Office Expenses Before Granting S. 80-IA Deduction: Calcutta High Court Upholds S. 263 Revision

Direct Tax

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By Mariya Paliwala
calcutta hc

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The Calcutta High Court has upheld the exercise of revisionary jurisdiction under Section 263 of the Income Tax Act against companies of the Shyam Group, holding that the Assessing Officer cannot allow profit-linked deductions under Section 80-IA without properly examining the allocation of common Head Office expenses to eligible units.  The Bench of Justice Rajarshi…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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