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2012 (11) TMI 1159 - AT - Income TaxDeduction u/s 80-IB - pure housing project or not - with or without commercial use - built up area - Held that:- Since the expression ‘housing project’ was not defined under the Act, its meaning would have to be gathered from the Rules and Regulations framed by the approving local authority. The Hon’ble High court explained that since a ‘local authority’ could approve the project to be a housing a project with or without commercial use, it was therefore, the intent of the legislature that deduction envisaged u/s 80-IB(10) was allowable to such housing projects. Therefore, the aforesaid objection raised by the Revenue to dis-entitle the assessee from claiming of deduction u/s 80-IB(10) is untenable. Since the project of the assessee commenced prior to 1-4-2005 the definition of ‘built up area’ as provided in sec. 80-IB(14)(a) cannot be applied in this case. Thus the objection raised by the Revenue to disentitle the assessee from claiming of deduction u/s 80-IB(10) of the Act is untenable. Disallowance on the basis of layout plant - Held that:- The original lay out plan of this commercial building was mentioned as ‘residential plus commercial’ in the original commencement. It is therefore, held that appellant was entitled for deduction u/s 80-IB(10) - Decided in favour of assessee.
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