Home Highlights June 2013 Year 2013 This

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1. Deduction u/s 80IB(10) - Mere sale of open land or unused FSI as part of the housing project where utilization of the FSI is way short of permissible limits cannot be...

2. Deduction u/s 80IB(10) r.w. section 80IB(1) – Profits derived from sale of unutilized FSI – none of the assessees have made any special ground for non-utilization of the...

3. Revision u/s 263 by CIT - Allowability of claim of deduction u/s. 80IB(10) - In case Revenue authorities are not satisfied with the contents of the completion...

4. Deduction u/s.80IB(10) - when the assessee claimed the deduction with respect to the residential units, which are having built up area less than 1500 sq.ft, the...

5. Deduction u/s 80IB(10) - substantial portion of the assessee's profit was not derived from development of housing project - the assessee had utilized about 20% or less...

6. Deduction u/s. 80IB(10) r.w.s. 80IB(1) - Profit derived from sale of unutilized FSI - he concept of element of unutilized FSI sold is imaginary and base on surmises and...

7. Deduction u/s 80IB(10) - cut of date for claiming deduction u/s 80IB(10) - No provision under the Municipal Corporation Act of Maharashtra Government was shown to us,...

8. Claim of deduction u/s.80-IB (10) - As the assessee has executed the project undertaking the risks and rewards and therefore, the claim of Section-80IB(10) is justified....

9. Till previous year assessee exempted u/s 10(29) - Assessee has claimed the entire depreciation during the assessment year under consideration, which is not permissible - HC

10. Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

11. Deduction u/s 80IB (10) (a) - If this condition is not fulfilled, the assessee who maintains work in progress accounting method and has claimed deduction under Section...

12. Eligibility for claiming deduction u/s. 80IB(10) - 5 units were left out to make space for construction of septic tank. The non-construction of 9 units, in our...

13. Deduction u/s 80IB - whether freight charges recovered from the customers are eligible for deduction under section 80IB ? - since the department has allowed the claim of...

14. Deduction u/s 80IB - Disallowance of Deduction as project was not completed as work-in-progress was reflected in the profit and loss account - Observing the facts and...

15. Deduction u/s.80IB(10) - Levy of tax u/s.115JC - housing project - Neither section 115JC excludes its application in respect of housing projects approved prior to its...