https://www.taxtmi.com/caselaws?id=261650 The Tribunal ruled in favor of the assessee in a case involving various income tax issues. The deductions under section 80IB(10) were allowed for all flats in the project "Ganga Tower II," including those on the 16th floor. Disallowances under sections 40A(2), allocation of indirect expenses, interest on loans, and sales promotion expenses were either reduced or overturned based on legal principles and precedents. The penalty imposed under section 271(1)(c) was annulled due to the allowance of deductions. The Tribunal's decision favored the assessee, dismissing the revenue's appeals and pronouncing the order on 15.5.2015. en-us Fri, 15 May 2015 00:00:00 +0530 Sat, 18 Jul 2015 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261650 The Tribunal ruled in favor of the assessee in a case involving various income tax issues. The deductions under section 80IB(10) were allowed for all flats in the project "Ganga Tower II," including those on the 16th floor. Disallowances under sections 40A(2), allocation of indirect expenses, interest on loans, and sales promotion expenses were either reduced or overturned based on legal principles and precedents. The penalty imposed under section 271(1)(c) was annulled due to the allowance of deductions. The Tribunal's decision favored the assessee, dismissing the revenue's appeals and pronouncing the order on 15.5.2015. Case-Laws Income Tax Fri, 15 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261650