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2016 (4) TMI 670 - AT - Income TaxDeduction under section 80IB(10) declined - land ownership and approval by local authority are not in the name of the assessee - Held that:- The issue in appeal before us is squarely covered by the decision in the case of Shri Umeya Corporation vs. Income Tax Officer [2015 (9) TMI 108 - ITAT AHMEDABAD ] wherein held all that is material is whether assessee is taking the entrepreneurship risk in execution of such project. When profits or losses, as a result of execution of project as such, belong predominantly to the assessee, the assessee is obviously taking the entrepreneurship risk qua the project and is, accordingly, eligible for deduction under section 80IB(10) in respect of the same. - Decided in favour of assessee
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