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2012 (6) TMI 319 - AT - Income TaxDisallowance of deduction u/s. 80IB (10) - housing project constructed by the assessee - condition for completion of the project within four years was not met – Held that:- Cluster of 16 buildings as per the sanctioned layout plan satisfied all the conditions of section 80IB(10) as the first building plan of the assessee was passed before the introduction of this condition in section 80IB(10) and hence, the condition for completion of the project within four years was not applicable in this case - assessee had completed 11 buildings construction on a portion of land occupying more than one acre - no definition of the term 'Project' in section 80IB(10) and the same could not be equated with the entire sanctioned layout - the decision taken on an identical issue under similar facts and circumstances of the case in the appeal for the A.Y. 2006-07 had accepted the assessee is very much entitled to the claimed deduction u/s. 80IB (10) of the Act during the current year – in favour of assessee
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