https://www.taxtmi.com/caselaws?id=62952 The appeal was partly allowed, with the Tribunal setting aside the CIT(A)'s order on profit computation and remanding the matter to the AO for fresh determination. The Tribunal emphasized that profits should be determined by spreading the estimated cost of development over the saleable area of the plots, aligning with relevant case law. The Tribunal upheld the disallowance of various expenses and directed the AO to recompute interest charges in accordance with its decision. en-us Tue, 21 Aug 2001 00:00:00 +0530 Tue, 25 Jan 2011 18:01:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62952 The appeal was partly allowed, with the Tribunal setting aside the CIT(A)'s order on profit computation and remanding the matter to the AO for fresh determination. The Tribunal emphasized that profits should be determined by spreading the estimated cost of development over the saleable area of the plots, aligning with relevant case law. The Tribunal upheld the disallowance of various expenses and directed the AO to recompute interest charges in accordance with its decision. Case-Laws Income Tax Tue, 21 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62952