https://www.taxtmi.com/caselaws?id=302790 Section 80IB(10) was construed to deny the revenue's objections to deduction on unaccounted on-money receipts found in search proceedings, and the claim was not accepted in the revenue's favour. The court also held that transactions with flat purchasers were not hit by clauses (e) and (f) where they predated the relevant amendments, so the revenue's challenge on alleged violation failed. On both issues, the questions were answered against the revenue and in favour of the assessee, leaving the assessee's entitlement to deduction undisturbed and causing the appeal to fail. en-us Tue, 22 Sep 2020 00:00:00 +0530 Sat, 18 Jun 2022 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302790 Section 80IB(10) was construed to deny the revenue's objections to deduction on unaccounted on-money receipts found in search proceedings, and the claim was not accepted in the revenue's favour. The court also held that transactions with flat purchasers were not hit by clauses (e) and (f) where they predated the relevant amendments, so the revenue's challenge on alleged violation failed. On both issues, the questions were answered against the revenue and in favour of the assessee, leaving the assessee's entitlement to deduction undisturbed and causing the appeal to fail. Case-Laws Income Tax Tue, 22 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302790