https://www.taxtmi.com/caselaws?id=401260 The High Court of Bombay upheld the decisions of the Commissioner (Appeals) and the ITAT in various Tax Appeal cases concerning the denial of deduction under Section 80IB of the Income Tax Act. It affirmed the concept of proportionate deductions under Section 80IB(10) for housing projects, emphasizing compliance with prescribed conditions. The Court dismissed the Revenue's appeals and accepted the appellants' decision not to pursue their appeals further, while retaining rights for future proceedings. The judgment clarified the parties' positions, dismissed specific appeals, and did not address costs, effectively resolving the issues raised in the appeals. en-us Thu, 26 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401260 The High Court of Bombay upheld the decisions of the Commissioner (Appeals) and the ITAT in various Tax Appeal cases concerning the denial of deduction under Section 80IB of the Income Tax Act. It affirmed the concept of proportionate deductions under Section 80IB(10) for housing projects, emphasizing compliance with prescribed conditions. The Court dismissed the Revenue's appeals and accepted the appellants' decision not to pursue their appeals further, while retaining rights for future proceedings. The judgment clarified the parties' positions, dismissed specific appeals, and did not address costs, effectively resolving the issues raised in the appeals. Case-Laws Income Tax Thu, 26 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401260