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Allowability of Deduction U/s. 80-IB(10) on income from sale of Floor Space Index (FSI)
Case Law Details
- Case Name
- M/s Aarti Projects and Constructions Vs. DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
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Facts of the Case
Facts in brief are that the assessee is engaged in the business of real estate development, construction of building and slum rehabilitation. During the year under consideration, the assessee undertook construction of tenements under Slum Rehabilitation Scheme of the Government of Maharashtra (‘the said Scheme’ in short) so as to enable the State to provide shelters to slum dwellers, for which consideration was paid in the form of FSI. The FSI thus awarded as consideration for the construction activities undertaken under the said Scheme could eit...
