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2013 (3) TMI 512 - AT - Income TaxDeduction u/s. 80IB(10) of the I.T. Act 1961 - Requirements of Sec. 80 IB(10) of the Act - Commercial space - Waiver of applicability of Urban Land Ceiling Act - Continuation of the old project - Date of approval of the building plan to - Held that :- From the very reading of the Explanation (i) makes it clear that the date on which building plan of such housing project is approved shall be deemed the date of approval of the housing project. - the assessee is very much eligible for the claimed deduction u/s. 80 IB (10) on the project ‘KKT’ in view of the above cited decisions including decision of Pune Bench of the Tribunal in the case of Nirmiti Construction Vs. DCIT (2004 (8) TMI 370 - ITAT PUNE ), following which, in our view, the Ld CIT(A) has rightly allowed the claimed deduction. The same is upheld. - Decided in favor of assessee.
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