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2020 (10) TMI 568 - KARNATAKA HIGH COURTProportionate deduction u/s 80IB - profits attributable to the units, where the built up area is below 1500 sq.ft.- Whether Tribunal was right in law in holding that the assessee is entitled to claim deduction under Section 80IB in respect of profits derived from sale of residential units, wherein the built up area is below 1500 sq.ft. without appreciating the fact that the deduction under Section 80IB(10) is project based rather than unit and there is no concept of proportionate deduction u/s 80IB(10)? - HELD THAT:- For the reasons assigned by us in the order passed [2020 (9) TMI 1137 - KARNATAKA HIGH COURT], the substantial questions of law are answered against the revenue and in favour of the assessee.
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