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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Deduction for housing project profits: phased allowance for World Bank aided projects subject to reserve, audit, and utilisation conditions.</h1> Deduction is available for profits from World Bank aided housing projects awarded on global tender to resident persons and Indian companies, subject to phased percentage limits and strict conditions: separate project accounts (audited where applicable) with the audit report filed; a portion of profits debited to profit and loss and credited to a Housing Projects Reserve Account for business use other than distribution for five years; limitation of deduction to amounts actually credited; recomputation and amendment if reserve amounts are wrongfully utilised; exclusivity from other deductions under the relevant Chapter.

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