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2010 (2) TMI 791 - AT - Income TaxInclusion / Exclusion in Area of Housing Project u/s 80IB. - Inclusion of boundary walls - held that:- Our interpretation of the language of the provisions is that the statute has not only specified the measurement but in a way also specified the boundaries hence the boundaries as also the measurement both should match with the minimum requirement of 1 acre. - Decided against the assessee. Inclusion / Exclusion in Area of Housing Project u/s 80IB. - whether the 15 per cent amenity space be held as part of the total project development on 1 acre land. - held that:- though the section does not specifically provide for the development plan roads or grant of other facilities etc., in a housing project but the same should conform to the project plan approved by the local authority. - When there is no doubt more so it is not in dispute that a portion of the land, in the present case it is 15 per cent. to be earmarked or set-apart or reserved or segregated out of the total land in question, minimum 1 acre, meant for the purpose of project in terms of rules/regulation of a local body, i.e., Pune Municipal Corporation, and without that segregation the project could not be sanctioned then that portion being mandatory for amenity purposes has to be taken as a part and parcel of the land available for the project. - Decided in favor of assessee.
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