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2016 (1) TMI 1258 - AT - Income TaxDisallowance u/s. 80IB(10) - whether the assessee is developer and thus eligible to claim deduction u/s. 80IB(10)? - Held that:- The case of the assessee in the present appeal is on a better footing, as there is no issue of sale of TDR by the assessee.Thus, we can safely conclude that the assessee executing the project under SRA scheme is a developer and not a contractor. As AR has submitted that the project developed by the assessee is notified under the scheme. This fact has not been controverted by the Department. Once the scheme is notified and the project is approved, the assessee is eligible to claim deduction on the project u/s. 80IB(10) of the Act. - Decided in favour of assessee.
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