https://www.taxtmi.com/caselaws?id=382381 The tribunal upheld the CIT(A)'s decision allowing deduction under Section 80IB(10) for profits from the sale of car parking spaces, dismissing the revenue's appeal. The carry forward of short-term capital loss was also upheld, with the tribunal finding no issue with the CIT(A)'s decision. However, deductions for profits from the sale of residential units with utility rooms exceeding 1500 sq. ft. and flats with built-up areas exceeding 1500 sq. ft. were disallowed. The claim for writing off sundry balances as a deductible expense was denied due to lack of evidence. The appeals for the assessment years 2009-10 and 2010-11 had mixed outcomes, with some aspects partly allowed for statistical purposes. en-us Fri, 21 Jun 2019 00:00:00 +0530 Mon, 01 Jul 2019 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382381 The tribunal upheld the CIT(A)'s decision allowing deduction under Section 80IB(10) for profits from the sale of car parking spaces, dismissing the revenue's appeal. The carry forward of short-term capital loss was also upheld, with the tribunal finding no issue with the CIT(A)'s decision. However, deductions for profits from the sale of residential units with utility rooms exceeding 1500 sq. ft. and flats with built-up areas exceeding 1500 sq. ft. were disallowed. The claim for writing off sundry balances as a deductible expense was denied due to lack of evidence. The appeals for the assessment years 2009-10 and 2010-11 had mixed outcomes, with some aspects partly allowed for statistical purposes. Case-Laws Income Tax Fri, 21 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382381