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2012 (11) TMI 633 - HC - Income TaxDeduction u/s 80IB – Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the assessee was eligible for deduction under Section 80IB(10) in pro-rata basis for housing unit having less than 1500 sq.ft., even though it would defeat the intention behind enacting the said provision, which was only for providing housing facilities for middle income group? held that:- Assessee was entitled to pro-rata deduction in respect of Units which have built-up area less than 1500 sq.ft. Thus, there could be no disallowance of the entire claim – Order of the Tribunal is confirmed, thereby rejecting the Revenue's appeals - In the result, Tax Case Appeals stand dismissed. No costs.
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