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2009 (6) TMI 670 - AT - Income TaxDeduction u/s 80-IB(10) - The common lacunae noted by the Assessing Officer on the claims were that some of the units in the respective projects namely, Aishwariya, Netpune and Jupiter had a built up area, exceeding one thousand sq. ft. thereby rendering such projects ineligible for claiming deduction under section 80-IB(10) of the Act - Whether balcony is to be construed as a part of the built-up area - Whether Finance (No. 2) Act, 2004 is retrospective or not - Even according to the Assessing Officer himself, built-up area as normally understood in common parlance means area enclosed within the external lines of the external walls - the enactment itself clearly specifies that clause will have effect from 1-4-2005 - prior to 1-4-2005, balcony would not form part of the built-up area, irrespective of the area of such balcony - Held that: there is no such definition for built up area, prior the amendment which came into effect from 1-4-2005, whereby its meaning was linked to any other enactments There is much strength in the argument that any addition of wall area thickness would not take it beyond 92.25 sq.mtr. which is equivalent to 1000 sq. ft - this issue has been correctly answered by the learned CIT(A) when he has given a finding that on verification the total built up area of all the four flats of A & B Wing of Neptune Project tallied with the built-up area of the floor as per the approved BMC plan - Held that: none of the units exceeded the 1000 sq.ft. limit in the Neptune project and the assessee was eligible for claiming deduction under section 80-IB(10) Regarding Jupiter project - D.V.O. Report dated 12-5-2008, though as aforesaid, it was obtained after the assessment it clearly shows that in none of the flats in Jupiter project exceeded 1000 sq. ft. - Appeal of the assessee is partly allowed
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