Home Highlights March 2013 Year 2013 This

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1. 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...

2. Deduction u/s 80(IB)(10) in respect of POR project - CIT(A) has observed that in view of the provisions of Section 80(IB)(10) of the Act, when the approval of the...

3. Deduction u/s 80IB(10) for an undertaking developing and building housing projects approved before March 31 by a local authority. The scope of the definition of...

4. 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...

5. 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...

6. Deduction u/s 80IB - Two approvals one as commercial and one as housing - There is no definition of housing project in the provisions and there can be more than one...

7. 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...

8. Deduction u/s 80IB - Since the project was approved before 1.4.2005 and as AO allowed deduction in earlier years, there is no need for disallowing the deduction in these...

9. Insertion of new section 80-IBA- Deductions in respect of profits and gains from housing projects - to provide 100% deduction of the profits and gains of an assessee...

10. 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...

11. Deductions under 80IB - Built up area - Projects approved in Oct 98 - The Section requires the assessee to build the project within this specified limit already approved...

12. 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...

13. Deduction u/s 80IB(10) - housing project having buildings A,B,C,D,E & F out of which A & B complete in all respects and other handed over to land lords - completion...

14. Jurisdiction of Adjudicating Authority - withdrawal of approved Resolution Plan - after due deliberations, when the 1st Respondent/’Resolution Applicant’ had accepted...

15. Deduction u/s 80IB - if the disallowance u/s 40A(3) is directly relatable to the profit of the eligible projects, then the deduction u/s 80IB be accordingly recomputed - AT