https://www.taxtmi.com/caselaws?id=425128 The Tribunal upheld the validity of the assessment order under section 143(3) of the Income Tax Act for AY 2010-11, dismissing the contention of the order being passed beyond the statutory time limit. The issue of deduction claimed under section 80IB(10) was remitted back to the AO for re-examination due to certain documents not being considered, directing the assessee to provide relevant evidence. Regarding the addition of development/construction receipts as unrecorded receipts, the Tribunal directed the AO to estimate 6% net profit on the total unrecorded receipts, partially allowing the assessee's ground. en-us Wed, 13 Jul 2022 00:00:00 +0530 Sat, 16 Jul 2022 09:21:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425128 The Tribunal upheld the validity of the assessment order under section 143(3) of the Income Tax Act for AY 2010-11, dismissing the contention of the order being passed beyond the statutory time limit. The issue of deduction claimed under section 80IB(10) was remitted back to the AO for re-examination due to certain documents not being considered, directing the assessee to provide relevant evidence. Regarding the addition of development/construction receipts as unrecorded receipts, the Tribunal directed the AO to estimate 6% net profit on the total unrecorded receipts, partially allowing the assessee's ground. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425128