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2021 (2) TMI 998 - HC - Income TaxProportionate deduction u/s 80IB(10) - flats measuring less than 1500 square feet - whether the benefit under section 80IB(10) is in respect of the entire "housing project" and not in respect of the flats/units specific independently? - Whether assessee would be entitled to deduction under section 80IB(10) in respect of 12th and 13th floor flats, when the flats were combined and were measuring more than 1500 square feet - Whether assessee was entitled to deduction of the flats at the 12th and 13th floor when the assessee has not claimed benefit in the return of income filed, without revising the original return of income? - computation of income of the assessee from project "Mantri Sarovar" on the basis of "Project computation method"- as per AS7 and AS9, the assessee has to follow percentage completion method as the assessee is a builder and developer? HELD THAT:- For the reasons assigned by us in the judgment passed today in[2021 (2) TMI 997 - KARNATAKA HIGH COURT] the substantial questions of law are answered against the revenue and in favour of the assessee.
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