https://www.taxtmi.com/caselaws?id=268459 The Tribunal found the profits declared by the assessee abnormal and unexplained, leading to a lack of proof for entitlement to exemption under Section 80IC of the Income-tax Act, 1961. The case highlighted the importance of justifying eligibility for tax deductions and maintaining consistency in financial claims. The Tribunal remanded the matter for a reasoned order after invoking Section 80(IA)(10) to prevent misuse of exemption claims. The decision emphasized the burden of proof on the assessee and the necessity for proper examination of eligibility criteria for deductions. en-us Fri, 11 Sep 2015 00:00:00 +0530 Thu, 26 Nov 2015 06:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268459 The Tribunal found the profits declared by the assessee abnormal and unexplained, leading to a lack of proof for entitlement to exemption under Section 80IC of the Income-tax Act, 1961. The case highlighted the importance of justifying eligibility for tax deductions and maintaining consistency in financial claims. The Tribunal remanded the matter for a reasoned order after invoking Section 80(IA)(10) to prevent misuse of exemption claims. The decision emphasized the burden of proof on the assessee and the necessity for proper examination of eligibility criteria for deductions. Case-Laws Income Tax Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268459