Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

When profits or losses, as a result of execution of project as ...


Assessee Entitled to Deduction u/s 80IB(10) for Project Profits or Losses, Bearing Entrepreneurship Risk.

April 19, 2016

Case Laws     Income Tax     AT

When profits or losses, as a result of execution of project as such, belong predominantly to the assessee, the assessee is obviously taking the entrepreneurship risk qua the project and is, accordingly, eligible for deduction under section 80IB(10) - AT

View Source

 


 

You may also like:

  1. Deduction u/s 80IB(10) - assessee had not incurred any expenses towards development or construction of the housing project - we have noted the factual position as could...

  2. Deduction under section 80IB(10) - if other project styled as “Tulsi” is part or extension of Vrindavan Project, then, Vrindavan Project is entitled to the benefit and...

  3. 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...

  4. Disallowance of deduction claimed u/s 80IB(10) - assessee had offered additional income in the proceedings initiated under section 153C of the Act - Restriction on claim...

  5. Deduction u/s 80lB(10) - Profit attributable to Car parking space and preferential location charges - Since these are integral part of the housing project, the profit...

  6. The ITAT held that deduction u/s 80IB(10) is allowed for flats exceeding 1000 sq. fts excluding open sky balcony. The Tribunal upheld the use of "Project Completion...

  7. Deduction u/s 80IB - Whether Ld.CIT(A) can re-estimate average profit @ 38.40%? - The powers given to assessing officer under sub-section 8 of section 80IA or 80IA(10)...

  8. Entitlement to deduction u/s.80IB(10) - additional receipts / income offered by the assessee against the project undertaken by the assessee u/s 132(4) - additional...

  9. Entitlement to deduction under section 80IB(10) - once it cannot be held that the project was completed within the prescribed period, the assessee is not entitled for...

  10. Deduction u/s 80IB - Once it is accepted that the shopping area of the assessee's this project was below 10% of the total project area, 80IB deduction has to allowed the...

  11. Assessee is eligible to claim deduction u/s 80IB(10) of the Act for the undisclosed income surrendered during search/survey action in a situation when assessee has been...

  12. 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...

  13. Deduction u/s. 80IB(10) - AO has proceeded on surmises that assessee was increasing the profits of 80IB(10) units and decreasing the profits of non-80IB units to gain...

  14. Whether loss of unit entitled to deduction under Section 10-B be set off against business profits earned by the assessee - Held Yes - HC

  15. Claim of deduction u/s. 80IB(10) - Gram Panchayat competency for sanction of plans of housing project - approval granted by the Village Panchayat for the housing project...

 

Quick Updates:Latest Updates