Floor Bed Area Open to sky and Balcony Area below Floor level doesn’t form part of Constructed Area, Deduction u/s 80IB(10) shall be allowed: ITAT [Read Order]

By Sunayana Dhal - On December 2, 2023 11:30 am - 2 mins read
Income Tax Appellate Tribunal - ITAT - Floor Bed Area - sky and Balcony Area - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the floor bed area open to the sky and balcony area below the floor level doesn’t form part of the constructed area and shall be allowed as a deduction under Section 80IB(10) of the Income Tax Act, 1961. The assessee company is in…

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