https://www.taxtmi.com/caselaws?id=343682 The ITAT upheld the CIT(A)'s decision to grant deduction under section 80IB(10) to the assessee, emphasizing that the entrepreneurial risk assumed by the assessee in the housing project was pivotal, not land ownership. The ITAT found the objections on the business model legally unsustainable and directed the Assessing Officer to delete the disallowance, endorsing that as long as the entrepreneurial risk is borne, eligibility for the deduction stands. The ITAT's ruling rested on the premise that the assessee's assumption of entrepreneurial risk in project execution determines entitlement to the deduction under section 80IB(10). en-us Fri, 26 May 2017 00:00:00 +0530 Wed, 31 May 2017 06:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343682 The ITAT upheld the CIT(A)'s decision to grant deduction under section 80IB(10) to the assessee, emphasizing that the entrepreneurial risk assumed by the assessee in the housing project was pivotal, not land ownership. The ITAT found the objections on the business model legally unsustainable and directed the Assessing Officer to delete the disallowance, endorsing that as long as the entrepreneurial risk is borne, eligibility for the deduction stands. The ITAT's ruling rested on the premise that the assessee's assumption of entrepreneurial risk in project execution determines entitlement to the deduction under section 80IB(10). Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343682