Dismissing the appeal of the revenue, the Court held that the Commissioner (Appeals) and Tribunal had recorded concurrent findings of fact that the assessee had complied with conditions prescribed for claiming a deduction under section 80-IB(10), and no substantial question of law. The court also held that where two flats were sold at lower rates compared to a third with direct terrace access, such a difference, supported by the finding that the third flat had added value due to the terrace, did not raise a substantial question of law nor justify inference of cash transactions without further evidence. Order of Tribunal affirmed.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IB(10): Housing projects-Built up area of each flat less than 1000 square feet-Approved construction plan-Unexplained money-Three flats on the same floor were sold at different rates-Rates at which flats were sold were higher than stamp valuation-Order of Tribunal deleting the addition was affirmed-No question of law. [S.69A, 260A]<\/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_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":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60558","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fKK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60558","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=60558"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60558\/revisions"}],"predecessor-version":[{"id":60559,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60558\/revisions\/60559"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}