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2012 (7) TMI 90 - HC - Income TaxDenial of benefit u/s 80-IB - project was not completed within four years,deviations in the sanctioned plan and flats are used as service apartments, the housing project is only in an area of 38 guntas and some of the flats exceed 1,500 sq. ft - Held that:- Though the assessee owned only 38 guntas of land when he started the construction, he acquired an extent of 1,440 sq. ft. of land adjoining the said land, thus making the total land in which the project was put up to 44,470 sq.ft. more than 43,480 sq.ft. which is prescribed under the law. The modified housing project was approved in the year 2001 after the aforesaid provision was inserted On 20.5.2003 occupancy certificate is issued, therefore, the construction is within the 4 years period stipulated. The assessee has sold these apartments to various purchasers who in turn are using it as service apartments for which the assessee cannot be held liable in any way and on that ground he cannot be denied the benefit. Out of 63 flats as it is stated 8 flats exceed the built-up area in excess of 1,500 sq. ft the authorities have taken into consideration the balcony area and the common area whereas prior to 1.4.2005 as law stood then balconies and common areas have to be excluded for the purpose of calculating the built-up area - deleting these two areas admittedly the apartments measure less than 1,500 sq. ft - no ground of denying the exemption to the assessee - against revenue.
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