Income Tax Act Section 80-IB(10): Allocate Common Expenses by Construction Area, Not Turnover, to Avoid Financial Distortion.

Income Tax Act Section 80-IB(10): Allocate Common Expenses by Construction Area, Not Turnover, to Avoid Financial Distortion. https://www.taxtmi.com/highlights?id=69114 Deduction u/s 80-IB(10) - manner of allocating the common expenses - the financial positions of the assessee will represent distorted position if the common expenses are allocated based on turnover. Thus, assessee has rightly adopted the basis of allocating the common expenses based on the area of construction of eligible and non-eligible projects - AT en-us Fri, 07 Apr 2023 14:19:41 +0530 Fri, 07 Apr 2023 14:19:41 +0530 TaxTMI RSS Generator Income Tax Act Section 80-IB(10): Allocate Common Expenses by Construction Area, Not Turnover, to Avoid Financial Distortion. https://www.taxtmi.com/highlights?id=69114 Deduction u/s 80-IB(10) - manner of allocating the common expenses - the financial positions of the assessee will represent distorted position if the common expenses are allocated based on turnover. Thus, assessee has rightly adopted the basis of allocating the common expenses based on the area of construction of eligible and non-eligible projects - AT Highlights Income Tax Fri, 07 Apr 2023 14:19:41 +0530 https://www.taxtmi.com/highlights?id=69114