Unaccounted Money is Eligible for Deduction u/S 80IB(10) of Income Tax Act: ITAT [Read Order]

Unaccounted Money was Eligible for Deduction under Section 8018(10) of the Income Tax Act, 1961, rules, ITAT
ITAT - ITAT Bangalore - Income Tax - Unaccounted Money - Tax deduction of unaccounted money - Unaccounted money deduction - Deduction - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) observed that unaccounted money was eligible for deduction under Section 80IB(10) of the Income Tax Act, 1961. The assesse company, engaged in the business of builders and property development and adhering to the mercantile system of accounting, filed its income tax return on…

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