https://www.taxtmi.com/caselaws?id=207691 HC dismissed the Revenue's appeal. On deduction under s.80-IA, HC, following Karnataka HC precedent, held that filing the audit report along with the return is not a mandatory precondition; production of the report before completion of assessment suffices, rendering the assessee eligible for the deduction. On the issue of unexplained share application money, HC applied the ratio of the Delhi HC in Stellar Investment, affirmed by SC, that once the assessee establishes receipt of share application money, any further probe into the subscribers' identity or creditworthiness lies against them, not the assessee; addition was unsustainable. en-us Wed, 14 Dec 2011 00:00:00 +0530 Wed, 03 Dec 2025 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207691 HC dismissed the Revenue's appeal. On deduction under s.80-IA, HC, following Karnataka HC precedent, held that filing the audit report along with the return is not a mandatory precondition; production of the report before completion of assessment suffices, rendering the assessee eligible for the deduction. On the issue of unexplained share application money, HC applied the ratio of the Delhi HC in Stellar Investment, affirmed by SC, that once the assessee establishes receipt of share application money, any further probe into the subscribers' identity or creditworthiness lies against them, not the assessee; addition was unsustainable. Case-Laws Income Tax Wed, 14 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207691