Sunday 3 August 2014

No sec. 80-IB relief on income surrendered in search if it was not linked with business of industria

IT : Where assessee claimed deduction under section 80-IB in respect of income surrendered during search proceedings on ground that it had direct and proximate connection with business of industrial undertaking, since assessee failed to produce any evidence on record in support of its claim, authorities below were justified in rejecting same


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