https://www.taxtmi.com/caselaws?id=351544 The High Court upheld the Tribunal's decision in a tax case, rejecting the appeal and affirming the Tribunal's rulings on various issues. The rejection of books of accounts under Section 145(3) was deemed unjustified, supporting consistent maintenance without significant discrepancies. The application of the percentage completion method was upheld, recognizing it as a valid accounting method. The acceptance of 'on money' and seized documents was deemed unjustified without corroborative evidence. The deduction under Section 80IB(10) was allowed despite the absence of a certificate in the firm's name. The CIT(A) was found to have the authority to relax statutory conditions under Section 80IB(10). en-us Thu, 09 Nov 2017 00:00:00 +0530 Mon, 27 Nov 2017 08:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351544 The High Court upheld the Tribunal's decision in a tax case, rejecting the appeal and affirming the Tribunal's rulings on various issues. The rejection of books of accounts under Section 145(3) was deemed unjustified, supporting consistent maintenance without significant discrepancies. The application of the percentage completion method was upheld, recognizing it as a valid accounting method. The acceptance of 'on money' and seized documents was deemed unjustified without corroborative evidence. The deduction under Section 80IB(10) was allowed despite the absence of a certificate in the firm's name. The CIT(A) was found to have the authority to relax statutory conditions under Section 80IB(10). Case-Laws Income Tax Thu, 09 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351544