2010 (10) TMI 1079

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..... )-II, Baroda dated 25th March, 2010 for assessment year 2007-08 on the following ground: 1. On the facts and in the circumstances of the case and in law, he ld.CIT(A) Appeals) erred in allowing deduction u/s 80IB(10) in respect of the proceeds attributable to the sale of unutilized FSI and not to he dwelling units in the housing projects, which could not be termed as profits 'derived' .....

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..... rom activities of development and construction. In essence, deduction u/s 80IB(10) was limited to the sale of unutilized FSI of 7359.42 sq.mtrs. It was submitted before the ld.CIT(A) that the issue is covered in favour of the assessee by order of ITAT, Ahmedabad Bench in the case of Radhe Developer (supra) in respect of unutilized FSI. The ld.CIT(A) considered the decision in the case of Radhe Dev .....

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