Tribunal held that, transfer fee and interest received for delay in payment against flat is eligible deduction . As regards interest on bank deposits the same should be restricted to net interest . Followed ACG Associated Capsules P . Ltd v. CIT ( 2012) 343 ITR 89 (SC) ( AY.2011-12)
Satern Griha Nirman P. Ltd. v. ITO (2020) 79 ITR 359 (Kol) (Trib)
S. 80IB(10) : Housing projects- Interest on bank deposits – Transfer fee and interest received for delay in payment against flat – Eligible deduction – Net interest can be disallowed .