Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 142 - GUJARAT HIGH COURTDeduction u/s 80IB(10) - Assessee not owner of land - Tribunal deleted disallowance - Held that:- Assessee took the full risk of executing the housing project and thereby making profit or loss as the case may be. The assessee invested its own funds in the cost of construction and engagement of several agencies. Land owner would receive a fix predetermined amount towards the price of land and was thus insulated against any risk - Supreme Court dismissed decision appeal in case of CIT v. Radhe Developers[2011 (12) TMI 248 - GUJARAT HIGH COURT] - Therefore, Decided against Revenue.
|