https://www.taxtmi.com/caselaws?id=427559 The Tribunal allowed the assessee's claim for deduction under section 80-IB [10] of the Act for profits derived from the sale of flats purchased from landowners, considering them part of the housing project's development activities. The Tribunal held that these profits were eligible for the deduction, overturning the Assessing Officer's disallowances and additions. The decision reiterated the eligibility of such profits for deduction under section 80-IB [10], emphasizing their contribution to the housing project's development. As a result, the appeal was partly allowed in favor of the assessee. en-us Fri, 09 Sep 2022 00:00:00 +0530 Mon, 12 Sep 2022 08:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427559 The Tribunal allowed the assessee's claim for deduction under section 80-IB [10] of the Act for profits derived from the sale of flats purchased from landowners, considering them part of the housing project's development activities. The Tribunal held that these profits were eligible for the deduction, overturning the Assessing Officer's disallowances and additions. The decision reiterated the eligibility of such profits for deduction under section 80-IB [10], emphasizing their contribution to the housing project's development. As a result, the appeal was partly allowed in favor of the assessee. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427559