https://www.taxtmi.com/caselaws?id=406669 For Section 80IB deductions, the Court accepted that allocation of common project expenses need not be confined to turnover where the Tribunal's factual finding was not shown to be perverse, and the assessee's computation method was sustained. It also applied earlier precedent to uphold deduction under Section 80IB(10) despite objections based on commercial area and larger flats in the project. On transfer of land or undivided share to flat purchasers, the Court treated possession given in part performance as a transfer under Section 2(47)(v) read with Section 53A of the Transfer of Property Act, making the related profits includible for deduction purposes. en-us Mon, 05 Apr 2021 00:00:00 +0530 Tue, 20 Apr 2021 12:54:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406669 For Section 80IB deductions, the Court accepted that allocation of common project expenses need not be confined to turnover where the Tribunal's factual finding was not shown to be perverse, and the assessee's computation method was sustained. It also applied earlier precedent to uphold deduction under Section 80IB(10) despite objections based on commercial area and larger flats in the project. On transfer of land or undivided share to flat purchasers, the Court treated possession given in part performance as a transfer under Section 2(47)(v) read with Section 53A of the Transfer of Property Act, making the related profits includible for deduction purposes. Case-Laws Income Tax Mon, 05 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406669