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2013 (11) TMI 1641 - AT - Income TaxDeduction u/s 080IB - clause (d),inserted to the section 801B(10) with effect from 01/04/2005, was prospective and not retrospective and hence could not be applied to the period prior to 01/04/2005,that the restriction imposed by the introduction of sub-section(d) to section 801B(10) w. e, f. 1.4.2005 were therefore not applicable to the assessee as his project having commercial area was approved as well as commenced prior to the said date, that deduction u/s. 80IB(10) would be available to the housing projects irrespective of the fact that project was approved as a ‘housing project’ or approved as ‘residential with shopline’,that as long as the housing project was as per the Development Control Regulations of the local authority the assessee could not be denied the deduction u/s. 80 IB(l0)
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