https://www.taxtmi.com/caselaws?id=408043 The High Court of Karnataka upheld the Tribunal's decision regarding the interpretation of Section 80IB(10) of the Income Tax Act, allowing the deduction for a construction firm despite the revenue's challenge. The court also affirmed the application of accounting standards for real estate developers and upheld the disallowances under Rule 8D(2)(II), Section 14A, and Section 36(1)(iii) based on previous legal positions and factual findings, ultimately dismissing the revenue's appeal and ruling in favor of the assessee. en-us Fri, 05 Feb 2021 00:00:00 +0530 Sat, 29 May 2021 08:31:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408043 The High Court of Karnataka upheld the Tribunal's decision regarding the interpretation of Section 80IB(10) of the Income Tax Act, allowing the deduction for a construction firm despite the revenue's challenge. The court also affirmed the application of accounting standards for real estate developers and upheld the disallowances under Rule 8D(2)(II), Section 14A, and Section 36(1)(iii) based on previous legal positions and factual findings, ultimately dismissing the revenue's appeal and ruling in favor of the assessee. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408043