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2012 (7) TMI 87 - HC - Income TaxDenial of claim of deduction under Section 80-IB (10) - flats whose built-up area was more than 1500 sq. ft - Held that:- In calculating the built-up area it is only the inner measurements of the residential unit on the floor level, which has to be taken into consideration and if there are any projections and balconies which exclusively belongs to the residential units, then, that also has to be taken into consideration for deciding the built-up area.If that area does not exclusively belong to the owner of residential unit and if he has to share that common area with the owner of another residential unit, then that common area has to be excluded from the built-up area. In respect of 16 flats whose built-up area was considered more than 1500 sq. ft, the common area is shared by these 16 owners of residential units as this common area is not the subject matter of sale as is clear from the recitals in the sale deed, the owners of the residential units do not have exclusive right to use these balconies as they have to share it with others, that area cannot be taken into consideration to decide the built-up area, thus it is clear that if this balcony space is excluded all the 160 units are less than 1500 sq.ft and therefore the assessee was entitled to 100% tax exemption on this project - decided in favour of assessee.
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