Cost of land purchased by Co. to provide parking space to shop owners of its mall eligible for deduction: ITAT

INCOME TAX : Where assessee-builder had constructed a mall and had sold shops/offices of mall by making a promise to buyer to provide parking space, but DMRC had acquired plot kept for parking space, for construction of metro station, since parking space was one of such conditions based on which approval was granted to shopping mall and assessee had met its obligation by providing a plot of land to be used as a parking space,

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