https://www.taxtmi.com/caselaws?id=393539 The ITAT dismissed the appeals filed by both the revenue and the assessee. It upheld the CIT(A)'s decision to treat the increased profit resulting from the disallowance of bogus purchases as eligible for deduction under Section 80IA(4). Additionally, the ITAT confirmed that the assessee met the criteria to be considered a developer, thus qualifying for the deduction under Section 80IA(4). The ITAT emphasized the alignment of the assessee's business activities with those of a developer, involving substantial financial and technical risks, and deriving profits from eligible business operations. en-us Wed, 19 Feb 2020 00:00:00 +0530 Tue, 17 Mar 2020 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393539 The ITAT dismissed the appeals filed by both the revenue and the assessee. It upheld the CIT(A)'s decision to treat the increased profit resulting from the disallowance of bogus purchases as eligible for deduction under Section 80IA(4). Additionally, the ITAT confirmed that the assessee met the criteria to be considered a developer, thus qualifying for the deduction under Section 80IA(4). The ITAT emphasized the alignment of the assessee's business activities with those of a developer, involving substantial financial and technical risks, and deriving profits from eligible business operations. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393539