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2013 (10) TMI 758 - AT - Income TaxDeduction u/s 80IB of the Income Tax Act – Built-up area of certain residential units is more than 1500 Sq.ft. - Built-up area of 17 flats is beyond the limit prescribed in clause (c) to section 80-IB(10) of the Act - Plea of the assessee is that the entire project could not be held ineligible for deduction u/s 80-IB(10) of the Act – Held that:- Relying upon the judgment of Bombay Bench of the Tribunal in the case of Ekta Housing Pvt. Ltd [2013 (9) TMI 115 - ITAT MUMBAI], it is held that merely the assessee has violated the condition u/s 80- IB(10)(c) of the Act in relation to 17 flats, it cannot be denied the deduction u/s 80-IB(10) of the Act on entire profits of the project which pertinently include profits in relation to residential units which comply with the limits prescribed in sec. 80-IB(10)(c) of the Act - Deduction u/s 80-IB(10) of the Act shall be denied on the profits proportionate to 17 flats which are in violation of sec. 80-IB(10) of the Act – Decided in favor of Assessee.
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