HC dismissed revenue's challenge and upheld the concurrent...

HC dismissed revenue's challenge and upheld the concurrent factual findings of CIT(A) and the ITAT that the assessee satisfied conditions for deduction under section 80IB(10), the approved plan showing each residential unit under 1,000 sq. ft. The court held the dispute over comparative sale rates and valuation (including terrace access) raised no question of law or substantial question of law, and that differences in sale prices vis-à-vis stamp rates did not permit an inference of cash transactions without further evidence. Consequently, there was no perversity warranting interference under section 260A of the IT Act, and the appellate and tribunal conclusions were sustained.