https://www.taxtmi.com/caselaws?id=401289 The High Court allowed the appeal partly, ruling in favor of the assessee by permitting pro-rata deductions under Section 80IB(10) of the Income Tax Act for the housing project "Models Legacy." The Court set aside the ITAT's decision disallowing these deductions and restored the Commissioner's order granting pro-rata deductions. The Court also addressed an additional substantial question raised during the proceedings in favor of the assessee. Other substantial questions were not pursued by the assessee, who reserved the right to raise them in future proceedings. The appeal concluded without costs awarded. en-us Thu, 26 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401289 The High Court allowed the appeal partly, ruling in favor of the assessee by permitting pro-rata deductions under Section 80IB(10) of the Income Tax Act for the housing project "Models Legacy." The Court set aside the ITAT's decision disallowing these deductions and restored the Commissioner's order granting pro-rata deductions. The Court also addressed an additional substantial question raised during the proceedings in favor of the assessee. Other substantial questions were not pursued by the assessee, who reserved the right to raise them in future proceedings. The appeal concluded without costs awarded. Case-Laws Income Tax Thu, 26 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401289