https://www.taxtmi.com/caselaws?id=219040 Section 80IB(10) deduction cannot be denied merely because the developer is not the recorded owner of the land where it has possession, dominion, and control of the housing project and develops it at its own risk and cost; the arrangement may also be treated as a deemed transfer for tax purposes under Section 2(47)(v) read with Section 53A. On contract receipts, when books of account are unavailable, the entire receipt need not be taxed as income and profit may be estimated on a percentage basis; the 8% estimation under Section 44AD was upheld on the material before the Court. en-us Tue, 10 Jan 2012 00:00:00 +0530 Mon, 03 Dec 2012 23:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219040 Section 80IB(10) deduction cannot be denied merely because the developer is not the recorded owner of the land where it has possession, dominion, and control of the housing project and develops it at its own risk and cost; the arrangement may also be treated as a deemed transfer for tax purposes under Section 2(47)(v) read with Section 53A. On contract receipts, when books of account are unavailable, the entire receipt need not be taxed as income and profit may be estimated on a percentage basis; the 8% estimation under Section 44AD was upheld on the material before the Court. Case-Laws Income Tax Tue, 10 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219040