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Income Tax - Highlights / Catch Notes

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Deduction u/s 80IB(10) - Mere sale of open land or unused FSI as ...


Sale of Unused FSI in Housing Projects Not Eligible for Tax Deductions u/s 80IB(10) of Income Tax Act.

April 2, 2014

Case Laws     Income Tax     HC

Deduction u/s 80IB(10) - Mere sale of open land or unused FSI as part of the housing project where utilization of the FSI is way short of permissible limits cannot be said to have been derived from such housing project. - HC

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