Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 124 - ITAT MUMBAIDeduction u/s.80HHC on the undisclosed income - Held that:- There was no dispute about the fact that the assessee is entitled to deduction u/s.80HHC on the undisclosed income and the only question was as to whether the requirements of section 80HHC are fulfilled. From the detailed discussion given above, it is clear that in the present case all the conditions and requirements of section 80HHC are fully satisfied. We therefore, direct the AO to allow claim of deduction u/s.80HHC with regard to addition on income. Before parting with the issue it is pertinent to mention that the Hon’ble Supreme Court in the case of Vegitables Products, [1973 (1) TMI 1 - SUPREME Court ] has held that when there are two view in respect of point under consideration, then the view in favour of the assessee needs to be adopted. - Decided in favour of assessee
|