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2013 (2) TMI 800 - AT - Income TaxDisallowance of deduction under section 80IB(10) - Held that:- Assessing Officer was not justified in observing that the assessee is not eligible for deduction since commencement certificate and completion certificate are not in the name of the assessee. Construction of even one building with several residential units of the size not exceeding 1000 square feet ('E' building in the present case) would constitute a 'housing project' under Section 80IB(10) of the Act. Gram panchayat Keshav Nagar, Mundhwa, Pune, is local authority for the purpose of issuing completion certificate for claiming deduction u/s.80IB(10) in respect of profit from sale of eligible flats in project in question. Assessee fulfilled all conditions laid down for claim of deduction u/s.80IB(10)
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