Claim on Cost of Construction shall be in accordance with Supplementary Development Agreement: ITAT deletes Addition of differential Cost [Read Order]

Claim - Construction - Supplementary- Development -Agreement-ITAT - Cost-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the claim on the cost of construction shall be made in accordance with the Supplementary Development Agreement. The assessee is a widely held public limited company that earlier owned a textile mill land which was converted into a residential house and the assessee…

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