https://www.taxtmi.com/caselaws?id=332342 The Tribunal partially allowed the appeal against the CIT(A)'s order for A.Y. 2010-11, regarding deduction U/s 80IB(10). It held that FDR interest was not derived from housing development and thus not eligible for deduction, following a Supreme Court judgment. However, the Tribunal found the forfeited amount and interest from customers directly related to the business, making them eligible for deduction. Miscellaneous income from room rentals was considered incidental and not directly linked to the business, thus not eligible for deduction. The matter was remanded for verification of certain amounts. en-us Wed, 03 Aug 2016 00:00:00 +0530 Thu, 15 Sep 2016 09:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332342 The Tribunal partially allowed the appeal against the CIT(A)'s order for A.Y. 2010-11, regarding deduction U/s 80IB(10). It held that FDR interest was not derived from housing development and thus not eligible for deduction, following a Supreme Court judgment. However, the Tribunal found the forfeited amount and interest from customers directly related to the business, making them eligible for deduction. Miscellaneous income from room rentals was considered incidental and not directly linked to the business, thus not eligible for deduction. The matter was remanded for verification of certain amounts. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332342