This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 80-IB(10) deduction was allowable for timely completed wings and held remaining wing to be separate project
Case Law Details
- Case Name
- Aakash Nidhi Builders &
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 15/04/2025
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Aakash Nidhi Builders & Developers Vs ITO (ITAT Mumbai)
Conclusion: Deduction under section 80-IB(10) was allowable for profits derived from Wings A to F of a housing project completed within the prescribed time limit and held that the additional Wing-G, which was completed later, constituted a separate project and was not eligible for deduction under the same section.
Held: Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claimed deduction under section 80-IB(10) amounting to Rs. 2,51,07,390 on the...
Author Info
