Assessee Can Claim Section 80IB(10) Deduction on Additional Income Disclosed Post-Search, Despite Prior Income Suppression.

Assessee Can Claim Section 80IB(10) Deduction on Additional Income Disclosed Post-Search, Despite Prior Income Suppression. https://www.taxtmi.com/highlights?id=69562 Deduction u/s. 80IB(10) - declaration of additional income - No doubt there has been suppression of the actual income for the purpose of evading tax. Nevertheless, various decisions of the higher forums have held that the assessee is entitled to claim deduction u/s. 80IB(10) on additional income declared by the assessee subsequent to the search proceedings. - AT en-us Wed, 03 May 2023 11:33:28 +0530 Wed, 03 May 2023 11:33:28 +0530 TaxTMI RSS Generator Assessee Can Claim Section 80IB(10) Deduction on Additional Income Disclosed Post-Search, Despite Prior Income Suppression. https://www.taxtmi.com/highlights?id=69562 Deduction u/s. 80IB(10) - declaration of additional income - No doubt there has been suppression of the actual income for the purpose of evading tax. Nevertheless, various decisions of the higher forums have held that the assessee is entitled to claim deduction u/s. 80IB(10) on additional income declared by the assessee subsequent to the search proceedings. - AT Highlights Income Tax Wed, 03 May 2023 11:33:28 +0530 https://www.taxtmi.com/highlights?id=69562