Lady signs POA with land owner, builds flats on land and sells, claims Rs 13 crore tax deduction, I-T dept sends notice; She fights back and wins in HC

The Madras High Court has ruled that taxpayers can claim deductions under Section 80-IB without owning the land. This decision supports a previous order by ITAT Chennai. The court found that land ownership is not a prerequisite for claiming this tax benefit. The ruling benefits Smt Rajini, who developed a housing project through a Power of Attorney.

from Tax-Wealth-Economic Times https://ift.tt/XaYn9bi