https://www.taxtmi.com/caselaws?id=235817 The High Court of Gujarat dismissed the Revenue's appeal, affirming the deductions claimed under section 80-IB(1) for a housing project and rejecting the disallowance under section 80-IB(10) for interest on delayed payments and balances written off. The Court emphasized the legal relationship between the assessee and the landowner, concluding that the assessee had control over the project and bore the associated risks. Additionally, the Court considered interest on delayed payments as part of the sale consideration realization process and deemed balances written off as integral to the business operations, supporting the decisions of the lower authorities. en-us Tue, 02 Apr 2013 00:00:00 +0530 Thu, 24 Oct 2013 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235817 The High Court of Gujarat dismissed the Revenue's appeal, affirming the deductions claimed under section 80-IB(1) for a housing project and rejecting the disallowance under section 80-IB(10) for interest on delayed payments and balances written off. The Court emphasized the legal relationship between the assessee and the landowner, concluding that the assessee had control over the project and bore the associated risks. Additionally, the Court considered interest on delayed payments as part of the sale consideration realization process and deemed balances written off as integral to the business operations, supporting the decisions of the lower authorities. Case-Laws Income Tax Tue, 02 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235817