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2016 (2) TMI 231 - AT - Income TaxEligibility for the deduction u/s. 80IB(10) - non-completion of the few buildings - Held that:- The assessee is entitled to pro-rata deduction in respect of the buildings/units of the housing project ‘Kumar Padmalaya’ which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project ‘Kumar Padmalaya’. - Decided in favour of assessee
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