https://www.taxtmi.com/caselaws?id=269059 The Tribunal dismissed the revenue's appeals, affirming the CIT(A)'s decision to allow the deduction under Section 80IB(10) for the profits derived from the "Luxury" housing project without aggregating the losses from the "Efficiency" and "Comfort" projects. The Tribunal emphasized the importance of maintaining separate books of accounts for each project and treating them as distinct entities for the purpose of computing the deduction. The decision also clarified that the presence of a commercial area in a different project did not affect the eligibility of the Luxury project for the deduction. en-us Tue, 24 Nov 2015 00:00:00 +0530 Mon, 07 Dec 2015 10:20:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269059 The Tribunal dismissed the revenue's appeals, affirming the CIT(A)'s decision to allow the deduction under Section 80IB(10) for the profits derived from the "Luxury" housing project without aggregating the losses from the "Efficiency" and "Comfort" projects. The Tribunal emphasized the importance of maintaining separate books of accounts for each project and treating them as distinct entities for the purpose of computing the deduction. The decision also clarified that the presence of a commercial area in a different project did not affect the eligibility of the Luxury project for the deduction. Case-Laws Income Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269059