High Court of Bombay at Goa Allows Tax Appeal in Part: ITAT Order Set Aside for Disallowing Deduction Under Section 80IB(10) for Sale of Multiple Flats to Same Person/Family, But Upholds Denial of Pro-rata Deduction. The amendment to Section 80IB(10)(f) was prospective, and agreements executed before its effective date cannot be subjected to the new condition.
1 Dec 2020The case involves a tax appeal by M/s. Kamat Constructions Pvt. Ltd. against the order of the Income Tax Appellate Tribunal (ITAT) which disallowed de...
