Thursday, November 12, 2020

No denial of sec. 80-IB deduction if unaccounted money found during search was treated as business income: HC

INCOME TAX : Where unaccounted money found during search proceedings at premises of assessee-company, engaged in business of building and developing housing project, was treated as business income of assessee by Assessing Officer, assessee could not be denied deduction under section 80-IB(10) in respect of such amount

from www.taxmann.com Latest Case Laws https://ift.tt/3lo8BuX

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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