https://www.taxtmi.com/caselaws?id=357383 The High Court upheld the Tribunal's decision in a tax appeal case, ruling in favor of the assessee. The Court agreed with the Tribunal's findings that unaccounted income disclosed during survey proceedings was properly reflected in audited accounts and should not be treated as undisclosed income. Additionally, the Court deemed the issue of deduction under Section 80IB [10] premature at the time of appeal, leading to the dismissal of the Tax Appeal. The decision highlighted the importance of adhering to legal principles and accounting standards in income and deduction treatment under the Income Tax Act. en-us Wed, 14 Feb 2018 00:00:00 +0530 Wed, 21 Mar 2018 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357383 The High Court upheld the Tribunal's decision in a tax appeal case, ruling in favor of the assessee. The Court agreed with the Tribunal's findings that unaccounted income disclosed during survey proceedings was properly reflected in audited accounts and should not be treated as undisclosed income. Additionally, the Court deemed the issue of deduction under Section 80IB [10] premature at the time of appeal, leading to the dismissal of the Tax Appeal. The decision highlighted the importance of adhering to legal principles and accounting standards in income and deduction treatment under the Income Tax Act. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357383