https://www.taxtmi.com/caselaws?id=299847 Deduction under section 80IB(10) was treated as available where a landowner substantively undertook development of a housing project, obtained approvals, retained control over the property, and only granted development rights and licence to the builder; the profit from sale of the assessee's share of flats was regarded as eligible business income. Deduction was also not denied merely because the return was filed after section 139(1) but within section 139(4), since those provisions were read together for section 80AC compliance and the later filing was treated as within the prescribed time. The assessee's claim was upheld and the Revenue's timing objection rejected. en-us Tue, 27 Nov 2018 00:00:00 +0530 Sat, 01 Jan 2022 08:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299847 Deduction under section 80IB(10) was treated as available where a landowner substantively undertook development of a housing project, obtained approvals, retained control over the property, and only granted development rights and licence to the builder; the profit from sale of the assessee's share of flats was regarded as eligible business income. Deduction was also not denied merely because the return was filed after section 139(1) but within section 139(4), since those provisions were read together for section 80AC compliance and the later filing was treated as within the prescribed time. The assessee's claim was upheld and the Revenue's timing objection rejected. Case-Laws Income Tax Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299847