Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Section 80IB(10)(b) requires the eligible housing project to be developed on the specific plot satisfying the minimum one-acre condition. Land forming part of the approved project, including integral common amenities, may be counted, but separate adjoining land used for the assessee's personal residence cannot be clubbed merely because it is contiguous or owned by the assessee. As the project itself stood on about 70 cents and the balance land was not part of the housing project, the statutory requirement was not met and the deduction was denied. The ITAT therefore upheld disallowance under section 80IB(10) and confirmed the lower authorities' orders.
Section 80IB(10)(b) requires the eligible housing project to be developed on the specific plot satisfying the minimum one-acre condition. Land forming part of the approved project, including integral common amenities, may be counted, but separate adjoining land used for the assessee's personal residence cannot be clubbed merely because it is contiguous or owned by the assessee. As the project itself stood on about 70 cents and the balance land was not part of the housing project, the statutory requirement was not met and the deduction was denied. The ITAT therefore upheld disallowance under section 80IB(10) and confirmed the lower authorities' orders.
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