https://www.taxtmi.com/highlights?id=57076 Deduction u/s 80IAB - development of SEZ - BOA has granted approval to the assessee. This approval has not been cancelled or suspended. It was valid. The assessee has offered a piece of land at lease rent for a period of 99 years with development charges - The receipt has been shown as income - Sister concern has already applied to the BOA Before the 31st March for approval. - It could not be doubted by referring an aspect that capital expenditure shown and capitalized under the head work-in-progress was bogus. On the basis of such an observation, deduction otherwise admissible to the assessee cannot be denied. - AT en-us Tue, 09 Mar 2021 15:40:20 +0530 Tue, 09 Mar 2021 15:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57076 Deduction u/s 80IAB - development of SEZ - BOA has granted approval to the assessee. This approval has not been cancelled or suspended. It was valid. The assessee has offered a piece of land at lease rent for a period of 99 years with development charges - The receipt has been shown as income - Sister concern has already applied to the BOA Before the 31st March for approval. - It could not be doubted by referring an aspect that capital expenditure shown and capitalized under the head work-in-progress was bogus. On the basis of such an observation, deduction otherwise admissible to the assessee cannot be denied. - AT Highlights Income Tax Tue, 09 Mar 2021 15:40:20 +0530 https://www.taxtmi.com/highlights?id=57076