https://www.taxtmi.com/caselaws?id=335128 The Tribunal upheld the legality of the assessment order passed under section 143(3) read with section 254 of the Income Tax Act, rejecting the appellant's challenge. The claim made under section 80IB of the Income Tax Act was allowed, amounting to Rs. 36,08,678, based on compliance with section 80IB(10) conditions. The Tribunal determined that the appellant had de facto ownership of the land, qualifying for the deduction. The explanations and evidence provided by the appellant were deemed sufficient, leading to a favorable decision. The application of section 263 was found unwarranted, and the appellant's deduction under section 80IB(10) was upheld. en-us Wed, 21 Sep 2016 00:00:00 +0530 Sat, 26 Nov 2016 10:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335128 The Tribunal upheld the legality of the assessment order passed under section 143(3) read with section 254 of the Income Tax Act, rejecting the appellant's challenge. The claim made under section 80IB of the Income Tax Act was allowed, amounting to Rs. 36,08,678, based on compliance with section 80IB(10) conditions. The Tribunal determined that the appellant had de facto ownership of the land, qualifying for the deduction. The explanations and evidence provided by the appellant were deemed sufficient, leading to a favorable decision. The application of section 263 was found unwarranted, and the appellant's deduction under section 80IB(10) was upheld. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335128