https://www.taxtmi.com/caselaws?id=281839 The ITAT upheld the CIT(A)'s decision, allowing the partnership firm's deductions under section 80IB for a slum rehabilitation project and lease income from unsold flats. The deductions were upheld based on compliance with statutory conditions, including the project's approval by the SRA and the lease income being derived from the housing project development. The ITAT also rejected claims of violation of section 80IB conditions due to merged flats exceeding 1000 sq. ft., emphasizing that post-sale modifications by buyers did not impact eligibility for deductions. The Revenue's appeals were dismissed, affirming the firm's eligibility for the deductions claimed. en-us Fri, 26 Oct 2018 00:00:00 +0530 Mon, 08 Jul 2019 19:02:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281839 The ITAT upheld the CIT(A)'s decision, allowing the partnership firm's deductions under section 80IB for a slum rehabilitation project and lease income from unsold flats. The deductions were upheld based on compliance with statutory conditions, including the project's approval by the SRA and the lease income being derived from the housing project development. The ITAT also rejected claims of violation of section 80IB conditions due to merged flats exceeding 1000 sq. ft., emphasizing that post-sale modifications by buyers did not impact eligibility for deductions. The Revenue's appeals were dismissed, affirming the firm's eligibility for the deductions claimed. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281839