Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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 Method" for profit determination. High Court dismissed Revenue's appeal. The requirement for deduction u/s 80IB(10) is met if a housing project is approved by a local authority. The argument to combine projects under a common approval was rejected. No specific finding on violation of conditions in clauses (e) & (f) of section 80IB(10) was made, so this ground was rejected. Assessee's appeal was allowed.
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 Method" for profit determination. High Court dismissed Revenue's appeal. The requirement for deduction u/s 80IB(10) is met if a housing project is approved by a local authority. The argument to combine projects under a common approval was rejected. No specific finding on violation of conditions in clauses (e) & (f) of section 80IB(10) was made, so this ground was rejected. Assessee's appeal was allowed.
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