Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4790
Join Channel
TaxTMI 
