Deduction u/s 80IB(10) - there could be no presumption that ...

Taxpayer Denied Deduction u/s 80IB(10); Surrendered Amount Classified as Income from Other Sources.

August 1, 2019

Case Laws Income Tax AT

Deduction u/s 80IB(10) - there could be no presumption that surrendered amount would represent business income unless and until assessees satisfies the authorities below that assessees have complied with the conditions of Section 80IB(10) while earning the impugned undisclosed income - Since assessee failed to prove through any evidence or material on record, same will be income from other sources - no deduction

View Source

← Previous Next →

Deduction u/s 80IB(10) - there could be no presumption that ...

Taxpayer Denied Deduction u/s 80IB(10); Surrendered Amount Classified as Income from Other Sources.

August 1, 2019

Case Laws Income Tax AT

You may also like:

Deduction u/s 80IB(10) – assessee surrendered the income, whose only source, was the business of the assessee - deduction allowed - AT

Assessee is eligible to claim deduction u/s 80IB(10) of the Act for the undisclosed income surrendered during search/survey action in a situation when assessee has been...

Entitlement to the deduction under Section 80IB - surrendered amount - appellant was not entitled to the deduction under Section 80IB on the surrendered amount though...

Deduction u/s 80IB - amount declared during the course of survey as additional income - assessee is not entitled to the deduction under section 80IB of the Act on the...

Nature of Income disclosed during the survey - assessee admitted the same and surrendered the amount as its income from Ornate House project - there was no...

Revision u/s 263 by CIT - Allowability of claim of deduction u/s. 80IB(10) - In case Revenue authorities are not satisfied with the contents of the completion...

Pro-rata deduction u/s 80IB - merely because the assessee had violated the provisions of section 80IB(10)(c) of the Act in respect of two units i.e. row houses D-3 and...

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Deduction u/s. 80IB(10) - declaration of additional income - No doubt there has been suppression of the actual income for the purpose of evading tax. Nevertheless,...

Deduction u/s.80IB(10) - when the assessee claimed the deduction with respect to the residential units, which are having built up area less than 1500 sq.ft, the...

Entitlement to deduction u/s.80IB(10) - additional receipts / income offered by the assessee against the project undertaken by the assessee u/s 132(4) - additional...

Income from hoarding whether income from business or income from other sources - income of Municipal Corporation - taxable as income from other sources and exempt u/s 10(20) - HC

Deduction u/s.80IB(10) - Levy of tax u/s.115JC - housing project - Neither section 115JC excludes its application in respect of housing projects approved prior to its...

Deduction u/s 80IB(10) - benefit to land owner who is partner in profit with developer - Nothing in Section 80IB(10) to deny the benefit of Deduction - Merely because...

Deduction u/s 80IB(10) – assessee is eligible for deduction u/s 80IB(10) of the Act even in relation to impugned additional income offered in a statement deposed u/s...

Quick Updates: