Deduction u/s 80IB(10) - business of development and ...

Section 80IB(10) Deduction: Commercial Area Limit Allegation Not Applicable Due to Pre-April 2005 Project Approval.

July 21, 2021

Case Laws Income Tax AT

Deduction u/s 80IB(10) - business of development and construction of residential and commercial units - Since, in the instant case the housing project was admittedly approved before 01.04.2005, therefore, the first allegation of the Revenue that the aggregate built up commercial area far exceeds the prescribed limit is not applicable to the assessee - Merely because certain procedural formalities relating to collection of booking application forms and money from the buyers were delegated to SICCL, it would not render SICCL as the developer of the project since the money collected by SICCL was on behalf of the assessee only - AT

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Deduction u/s 80IB(10) - business of development and ...

Section 80IB(10) Deduction: Commercial Area Limit Allegation Not Applicable Due to Pre-April 2005 Project Approval.

July 21, 2021

Case Laws Income Tax AT

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