https://www.taxtmi.com/caselaws?id=341991 The Tribunal dismissed the appeal, upholding the addition of Rs. 1,18,99,651/- to the appellant's income under Section 41(1) of the Income Tax Act, 1961. It held that Section 41(1) applies regardless of the exemption under Section 80P(2), emphasizing that income for deduction under Section 80P must comply with the Act's provisions. The Tribunal affirmed the AO's decision, following the Coordinate Bench's directions, and upheld the CIT(A)'s order, resulting in the dismissal of the appellant's appeal. en-us Mon, 17 Apr 2017 00:00:00 +0530 Sat, 22 Apr 2017 06:54:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341991 The Tribunal dismissed the appeal, upholding the addition of Rs. 1,18,99,651/- to the appellant's income under Section 41(1) of the Income Tax Act, 1961. It held that Section 41(1) applies regardless of the exemption under Section 80P(2), emphasizing that income for deduction under Section 80P must comply with the Act's provisions. The Tribunal affirmed the AO's decision, following the Coordinate Bench's directions, and upheld the CIT(A)'s order, resulting in the dismissal of the appellant's appeal. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341991