https://www.taxtmi.com/caselaws?id=755961 ITAT Delhi held that deduction u/s 80IB(7A) was not allowable on income from shop sale within a multiplex. The tribunal ruled that since the assessee lost ownership and operating control over the shop as an integral part of the multiplex theatre at the time of sale, the income could not qualify for the deduction. The assessee's argument regarding consistency with previous assessment year was rejected as the income was treated as capital gains in that year, not business income. Appeal dismissed. en-us Mon, 22 Jul 2024 00:00:00 +0530 Tue, 23 Jul 2024 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755961 ITAT Delhi held that deduction u/s 80IB(7A) was not allowable on income from shop sale within a multiplex. The tribunal ruled that since the assessee lost ownership and operating control over the shop as an integral part of the multiplex theatre at the time of sale, the income could not qualify for the deduction. The assessee's argument regarding consistency with previous assessment year was rejected as the income was treated as capital gains in that year, not business income. Appeal dismissed. Case-Laws Income Tax Mon, 22 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755961