https://www.taxtmi.com/caselaws?id=441092 The Appellate Tribunal ITAT Pune ruled in favor of the Revenue in appeals regarding the deduction under section 80IB(10) of the Income Tax Act for assessment years 2012-13, 2013-14, and 2014-15. The Tribunal found that the assessee did not meet the statutory conditions for claiming the deduction due to incomplete project completion within the specified timeframe. As a result, the Commissioner of Income Tax (Appeals) was deemed to have erred in allowing the deduction on a proportionate basis, leading to the orders being set aside in favor of the Revenue. The judgment underscores the importance of strict compliance with legal requirements for tax benefits. en-us Thu, 09 Mar 2023 00:00:00 +0530 Wed, 02 Aug 2023 10:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441092 The Appellate Tribunal ITAT Pune ruled in favor of the Revenue in appeals regarding the deduction under section 80IB(10) of the Income Tax Act for assessment years 2012-13, 2013-14, and 2014-15. The Tribunal found that the assessee did not meet the statutory conditions for claiming the deduction due to incomplete project completion within the specified timeframe. As a result, the Commissioner of Income Tax (Appeals) was deemed to have erred in allowing the deduction on a proportionate basis, leading to the orders being set aside in favor of the Revenue. The judgment underscores the importance of strict compliance with legal requirements for tax benefits. Case-Laws Income Tax Thu, 09 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441092