Assistant Commissioner Of Income Tax vs Turquoise Investments And Finance Ltd. ... on 27 May, 2003
In the case of CIT vs
ITA No. 2768/Ahd/15 (DCIT vs. M/s. Shakti Developers)
A.Y. 2011-12 -3-
Moonstar Developers [2014] 367 ITR 621(Guj.), Hon'ble High Court have
observed that if there are compelling reasons for under utilization of FSI,
deduction cannot be denied on grounds of under utilization even if there is
considerable under utilization. The observation of High Court is in para 31 which
is as under: