https://www.taxtmi.com/caselaws?id=273787 The High Court remitted the Long Term Capital Gain addition issue back to the tribunal due to errors in considering market values, emphasizing adherence to statutory provisions. The Court ruled in favor of the assessee on the deduction under Section 80IB(10) based on the requirement of local authority approval for projects to qualify as housing projects. The judgment directed a reevaluation of the capital gain issue and set aside the tribunal's decision on the deduction, emphasizing the importance of statutory compliance and local authority approval for tax benefits. en-us Tue, 30 May 2017 00:00:00 +0530 Sat, 14 Jul 2018 07:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273787 The High Court remitted the Long Term Capital Gain addition issue back to the tribunal due to errors in considering market values, emphasizing adherence to statutory provisions. The Court ruled in favor of the assessee on the deduction under Section 80IB(10) based on the requirement of local authority approval for projects to qualify as housing projects. The judgment directed a reevaluation of the capital gain issue and set aside the tribunal's decision on the deduction, emphasizing the importance of statutory compliance and local authority approval for tax benefits. Case-Laws Income Tax Tue, 30 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273787