https://www.taxtmi.com/caselaws?id=195737 The appeal filed by the Revenue was dismissed, and the appeal filed by the assessee was partly allowed. The Tribunal upheld the deletion of disallowance of Rs. 4,77,99,935/- in respect of accumulated loss brought forward from preceding years. The taxability of Rs. 17,23,91,106/- on a deemed accrual basis was remitted for further assessment. The deductibility of overhead expenditures amounting to Rs. 31,21,93,576/- was also remitted for fresh adjudication. Losses in housing and development projects were remitted for reconsideration, emphasizing the need to consider anticipated losses in profit computation. The issue of deduction disallowed under section 40(a)(ia) was also remitted for fresh adjudication. en-us Thu, 29 Nov 2012 00:00:00 +0530 Thu, 09 Nov 2017 12:25:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195737 The appeal filed by the Revenue was dismissed, and the appeal filed by the assessee was partly allowed. The Tribunal upheld the deletion of disallowance of Rs. 4,77,99,935/- in respect of accumulated loss brought forward from preceding years. The taxability of Rs. 17,23,91,106/- on a deemed accrual basis was remitted for further assessment. The deductibility of overhead expenditures amounting to Rs. 31,21,93,576/- was also remitted for fresh adjudication. Losses in housing and development projects were remitted for reconsideration, emphasizing the need to consider anticipated losses in profit computation. The issue of deduction disallowed under section 40(a)(ia) was also remitted for fresh adjudication. Case-Laws Income Tax Thu, 29 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195737