https://www.taxtmi.com/caselaws?id=331986 The ITAT partially allowed the Revenue's appeal, reducing the deduction under Section 80IB(10) to 50% of the profit derived from the sale of unutilized FSI for the assessment years 2002-03 and 2003-04. The ITAT concluded that significant under-utilization of FSI (more than 30%) cannot justify claiming the deduction, limiting the allowance to 30% of the unutilized FSI. The Revenue's appeals were partly allowed for both assessment years, resulting in reduced disallowances for the assessee. en-us Thu, 28 Jul 2016 00:00:00 +0530 Wed, 07 Sep 2016 11:41:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331986 The ITAT partially allowed the Revenue's appeal, reducing the deduction under Section 80IB(10) to 50% of the profit derived from the sale of unutilized FSI for the assessment years 2002-03 and 2003-04. The ITAT concluded that significant under-utilization of FSI (more than 30%) cannot justify claiming the deduction, limiting the allowance to 30% of the unutilized FSI. The Revenue's appeals were partly allowed for both assessment years, resulting in reduced disallowances for the assessee. Case-Laws Income Tax Thu, 28 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331986