Saturday 17 October 2015

ITAT allows sec. 80-IB relief on sum surrendered during survey as it was received for booking of hou

IT : Where certain amount was received for booking flat in house project developed by assessee and assessee did not have any other business activity during year under consideration, Assessing Officer was not justified in holding that said amount was income from other sources and deduction was to be allowed under section 80-IB(10) on said sum

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