Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2018 Year 2018 This

Deduction u/s.80IB(10) - The joint venture was merely used as ...

Income Tax

January 22, 2018

Deduction u/s.80IB(10) - The joint venture was merely used as conduit to facilitate execution of housing project work, the actual work was done by the two members of JV. All the expenditure for the execution of project was incurred by the individual members and not the joint venture. Therefore, the deduction was rightly claimed by the members - AT

View Source

 


 

You may also like:

  1. Deduction u/s 80IB(10) - assessee had not incurred any expenses towards development or construction of the housing project - we have noted the factual position as could...

  2. Deduction u/s 80IB(10) - housing project - whether ownership of land is necessary - computation of eligible land - AT

  3. Deduction u/s.80IB(10) - Levy of tax u/s.115JC - housing project - Neither section 115JC excludes its application in respect of housing projects approved prior to its...

  4. Disallowance of expenditure u/s 40(a)(ia) – Whether disallowance of expenditure u/s 40(a)(ia) is ‘eligible profit’ from housing project u/s.80IB(10) - Held Yes - AT

  5. Allowability of Interest on mobilization advance - amount was received for the execution of work contract - once the said amount was utilized for the execution of the...

  6. Claim of deduction u/s. 80IB(10) - Gram Panchayat competency for sanction of plans of housing project - approval granted by the Village Panchayat for the housing project...

  7. Entitlement to deduction u/s.80IB(10) - additional receipts / income offered by the assessee against the project undertaken by the assessee u/s 132(4) - additional...

  8. Deduction u/s 80IB - housing project - sale of flats to family members - application of restriction with retrospective effect or with prospective effect i.e 1.4.2010 -...

  9. Allowability of deduction u/s 80IB(10) and 80IB(1) – It does not provide that the land must be owned by the assessee seeking such deductions - it can be seen from the...

  10. Once it is held that the agreement constitutes AOP any amount drawn from the AOP cannot be taxed in the hands of the assessee member. The assessee is also not entitled...

 

Quick Updates:Latest Updates