Deduction u/s. 80IB(10) not eligible in absence of evidence substantiating development of eligible project

CIT Vs Indra Housing (Madras High Court) Madras High Court held that deduction under section 80IB(10) of the Income Tax Act not eligible in absence of any demonstrable evidence regarding any expense incurred towards eligible project to substantiate development of eligible project. Facts- The respondent, assessee firm, M/s.Indra Housing, claims to be engaged in the business of development of residential apartments, real estate and civil contract works. It filed its return of income declaring NIL income after claiming deduction under Section 80IB (10) of the Income Tax Act, of Rs.7,94,98,820/- ...