https://www.taxtmi.com/caselaws?id=235618 The appellant was entitled to deduction under Section 80 (IB) of the Income Tax Act for housing projects in NOIDA. The ITAT upheld the deduction for units within the statutory limit, emphasizing the approval dates for construction commencement. Regarding the liability to pay income tax on the annual letting value of unsold flats, the Court ruled in line with previous decisions, allowing assessments based on ALV. The appeals related to these issues were disposed of accordingly, with some dismissed and others partly allowed based on established legal precedents. en-us Fri, 19 Jul 2013 00:00:00 +0530 Mon, 29 Jul 2013 10:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235618 The appellant was entitled to deduction under Section 80 (IB) of the Income Tax Act for housing projects in NOIDA. The ITAT upheld the deduction for units within the statutory limit, emphasizing the approval dates for construction commencement. Regarding the liability to pay income tax on the annual letting value of unsold flats, the Court ruled in line with previous decisions, allowing assessments based on ALV. The appeals related to these issues were disposed of accordingly, with some dismissed and others partly allowed based on established legal precedents. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235618