Held that when the assessee had made a surrender with the clear admission of having received on-money and the Department had accepted it while including it in the total income, it could not later on claim that no deduction under section\u00a080-IB(10)\u00a0could be granted thereon on the ground that the assessee failed to prove that the flat bookers gave such on-money. Once at the time of its inclusion in the total income it was agreed to be on-money from the flat bookings, a fortiori, such an income, being from sale of flats albeit received as on-money, qualified for the deduction as well. Therefore, the assessee was entitled to deduction under section\u00a080-IB(10)\u00a0on such amount. (AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IB(10) : Housing projects-Survey-On money-Sale of flats-Entitle to deduction. [S. 133(6)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-25778","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6HM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=25778"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25778\/revisions"}],"predecessor-version":[{"id":27310,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25778\/revisions\/27310"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=25778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=25778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}