Deduction U/s. 80-IB(10) eligible on unaccounted receipts 

Pr. CIT Vs Green Associates (Gujarat High Court) The sole surviving question relates to the assessee’s disclosure of unaccounted receipts during the survey operation. The Assessing Officer taxed such receipts with the aid of Section 68 of the Act. Before the higher authorities, assessee argued that this also been the assessee’s income from development of housing project, the same should have been allowed as a deduction under Section 80IB [10] of the Act. The CIT [A] and the Tribunal accepted such proposition, upon which the Revenue has filed this Appeal. There is nothing on the record to s...