https://www.taxtmi.com/caselaws?id=198189 The Hon'ble Delhi High Court upheld the addition of notional Annual Letting Value (ALV) of unsold flats/spaces, emphasizing tax liability based on ownership. Deduction under section 80IB(10) was denied by the AO but partially allowed by the Tribunal. The Tribunal directed consideration of the revised computation of income and allowed depreciation on consultation/development fees. The issue of deduction under section 35D was remanded for reconsideration. The Tribunal also directed review of TDS credit claims. Interest under section 234B was upheld. The Tribunal's order balanced decisions on various issues, affirming some AO actions and remanding others for further review. en-us Tue, 28 Mar 2017 00:00:00 +0530 Wed, 24 Jan 2018 18:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198189 The Hon'ble Delhi High Court upheld the addition of notional Annual Letting Value (ALV) of unsold flats/spaces, emphasizing tax liability based on ownership. Deduction under section 80IB(10) was denied by the AO but partially allowed by the Tribunal. The Tribunal directed consideration of the revised computation of income and allowed depreciation on consultation/development fees. The issue of deduction under section 35D was remanded for reconsideration. The Tribunal also directed review of TDS credit claims. Interest under section 234B was upheld. The Tribunal's order balanced decisions on various issues, affirming some AO actions and remanding others for further review. Case-Laws Income Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198189