Deduction u/s. 80IB - The exemption provisions are to be ...

Strict Interpretation of Section 80IB: Assessee Must Provide Secondary Evidence Post-Fire to Claim Exemptions.

September 19, 2022

Case Laws Income Tax AT

Deduction u/s. 80IB - The exemption provisions are to be strictly construed. Even if we accept that books of accounts, vouchers etc. were destroyed in a fire, firstly the assessment order in first round was passed prior to the date of fire, and secondly even if primary evidences are not available, the assessee could have collected secondary evidences to demonstrate its bona-fide in case of installation of plant and machinery during the year under consideration - Assessee could have been procured as secondary evidence to justify employability of twenty or more workers in manufacturing process. - AT

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Deduction u/s. 80IB - The exemption provisions are to be ...

Strict Interpretation of Section 80IB: Assessee Must Provide Secondary Evidence Post-Fire to Claim Exemptions.

September 19, 2022

Case Laws Income Tax AT

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