Tuesday, February 9, 2021

Higher profit declared by real estate developer claiming relief u/s 80-IB justifiable as it sold only opening stocks

INCOME TAX : Where during current year, Real Estate Developer had sold opening stocks only and had not incurred any cost, thus, declared higher profit, without proving opening stock or sales invoices wrong, Revenue could not estimate lower average profit so as to reduce claim of deduction under section 80-IB

from www.taxmann.com Latest Case Laws https://ift.tt/3jwaS70
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