https://www.taxtmi.com/caselaws?id=396637 The Tribunal upheld the reassessment proceedings and the AO's disallowance of deduction under section 80IB(10) due to non-compliance with statutory requirements. The inclusion of the dry balcony area in the built-up area calculation was affirmed, and the pro-rata deduction for eligible units was allowed. The high gross profit rate was not considered a valid ground for denying the deduction. The appeals of the assessee were dismissed or allowed for statistical purposes, while the revenue's appeals were partly allowed. en-us Thu, 09 Jul 2020 00:00:00 +0530 Mon, 31 Aug 2020 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396637 The Tribunal upheld the reassessment proceedings and the AO's disallowance of deduction under section 80IB(10) due to non-compliance with statutory requirements. The inclusion of the dry balcony area in the built-up area calculation was affirmed, and the pro-rata deduction for eligible units was allowed. The high gross profit rate was not considered a valid ground for denying the deduction. The appeals of the assessee were dismissed or allowed for statistical purposes, while the revenue's appeals were partly allowed. Case-Laws Income Tax Thu, 09 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396637