https://www.taxtmi.com/caselaws?id=407711 The cost of an adjoining plot used permanently as parking for a shopping mall was allowable as a business deduction where the mall was approved only on the basis of adequate parking under the sanctioned plan and municipal norms. When the originally sanctioned parking area was taken for the metro project, the assessee dedicated the adjacent land to satisfy its project obligation and the parking commitments linked to the sale arrangements with buyers. Commercial reality prevailed over the absence of a separate legal transfer, so the land cost was treated as part of the project and business outlay. The disallowance was held unsustainable and the deduction was allowed. en-us Tue, 18 May 2021 00:00:00 +0530 Wed, 19 May 2021 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407711 The cost of an adjoining plot used permanently as parking for a shopping mall was allowable as a business deduction where the mall was approved only on the basis of adequate parking under the sanctioned plan and municipal norms. When the originally sanctioned parking area was taken for the metro project, the assessee dedicated the adjacent land to satisfy its project obligation and the parking commitments linked to the sale arrangements with buyers. Commercial reality prevailed over the absence of a separate legal transfer, so the land cost was treated as part of the project and business outlay. The disallowance was held unsustainable and the deduction was allowed. Case-Laws Income Tax Tue, 18 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407711