![Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Housing-Projects-Statutory-Approval-ITAT-Income-Tax-Deduction-Income-Tax-Deduction-Builder-Taxscan.jpg "Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]")
Delay in Completion of Housing Projects without Statutory Approval: ITAT Denies Income Tax Deduction u/s 80IB(10) to Builder [Read Order]
The Pune bench of Income Tax Appellate Tribunal ( ITAT ) denied income tax deduction under section 80IB (10) of Income Tax Act 1961 to a builder...
![No Income Tax on Deemed Rent on Unsold Flats held by Builder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Tax-Deemed-Rent-Builder-ITAT-taxscan-1.jpg "No Income Tax on Deemed Rent on Unsold Flats held by Builder: ITAT [Read Order]")
![On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-of-Property-Booked-Price-ITAT-Builder-On-Money-Income-Tax-Tax-taxscan.jpg "On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]")
![Capital Gain Exemption u/s 54 Not Allowable in cases where Builder has not Started Construction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Capital-Gain-Exemption-Builder-Construction-ITAT-TAXSCAN.jpg "Capital Gain Exemption u/s 54 Not Allowable in cases where Builder has not Started Construction: ITAT [Read Order]")
![Income earned by Builder from letting out of Property is assessable under head of Income from Business when objective in MOA is letting out of Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Builder-property-Income-from-Business-MOA-letting-out-of-Property-ITAT-taxscan.jpg "Income earned by Builder from letting out of Property is assessable under head of Income from Business when objective in MOA is letting out of Property: ITAT [Read Order]")
GST Evasion: DGGI Nagpur arrests prominent Builder in a case of availment of Fraudulent Input Tax Credit of Rs. 4.86 Cr on Fake Invoices
The officials of DGGI, Nashik Regional Unit of DGGI, Nagpur Zonal Unit arrested a prominent builder of Nashik in an ongoing investigation regarding availment of fraudulent Input Tax Credit on fake...
Deemed Rent from Unsold Flats not Taxable as they are Stock-in-Trade of Assessee-Builder: ITAT [Read Order]
In the case between M/s. Runwal Constructions vs. Assistant Commissioner of Income Tax, Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently ruled that the Assessing Officer cannot take...
![Deemed Rent from Unsold Flats not Taxable as they are Stock-in-Trade of Assessee-Builder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Flat-Taxscan.jpg "Deemed Rent from Unsold Flats not Taxable as they are Stock-in-Trade of Assessee-Builder: ITAT [Read Order]")
Deduction U/S 80-IB is allowable to Builder even If Construction is not according to the Approved Plan: Bombay HC [Read Judgment]
A two-judge bench of the Bombay High Court, in The Commissioner of Income Tax, Valsad v. M/s. C. N. Builders & Developers held that the deduction under section 80-IB is available to the...
![Deduction U/S 80-IB is allowable to Builder even If Construction is not according to the Approved Plan: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/06/Builders-and-Developers.jpg "Deduction U/S 80-IB is allowable to Builder even If Construction is not according to the Approved Plan: Bombay HC [Read Judgment]")
Advance received from Customer is Taxable since Builder following Percentage Completion Method of Accounting: ITAT [Read Order]
While hearing the case of M/s Vascular Township Pvt. Ltd, Jaipur bench of the Income Tax Appellate Tribunal (ITAT) recently held that the advance received from the customer is subject to tax for the...
Builder liable to pay Tax on the amount received from Buyer to the extent of stage of completion of the project: ITAT [Read Order]
In the case of M/s. A.N. Buildwell Pvt. Ltd Vs. DCIT, the ITAT Delhi bench comprising Amit Shukla (JM) and SH. O.P. Kant (AM) was held that if the significant risk and reward are transferred to the...