Section 80IB Deduction: Forfeited Cancellation Charges Must Be Subtracted from Sale Price Before Calculating Tax Deduction.

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....Deduction u/s. 80IB on the cancellation charges - when the assessee sells the apartments subsequently in later years which were cancelled by the buyers in earlier years the amounts forfeited/retained by the assessee on account of cancellations shall have to be reduced from the sale price and only on the balance sale consideration/income, the assessee is entitled for deduction u/s.80IB....