https://www.taxtmi.com/caselaws?id=191369 The Tribunal ruled in favor of the assessee, determining that the amount received from the AOP constituted a share of profit and was exempt under Section 167B(2) and Section 86 of the Income Tax Act. The Tribunal rejected the Assessing Officer's argument that the amount was consideration for the transfer of development rights. Additionally, the Tribunal found that the assessee was entitled to deduction under Section 80IB(10). The Tribunal allowed the appeals filed by the assessee, setting aside the CIT(A)'s order and holding in favor of the assessee on all grounds. en-us Fri, 21 Mar 2014 00:00:00 +0530 Sat, 01 Apr 2017 10:10:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191369 The Tribunal ruled in favor of the assessee, determining that the amount received from the AOP constituted a share of profit and was exempt under Section 167B(2) and Section 86 of the Income Tax Act. The Tribunal rejected the Assessing Officer's argument that the amount was consideration for the transfer of development rights. Additionally, the Tribunal found that the assessee was entitled to deduction under Section 80IB(10). The Tribunal allowed the appeals filed by the assessee, setting aside the CIT(A)'s order and holding in favor of the assessee on all grounds. Case-Laws Income Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191369