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2013 (11) TMI 719 - AT - Income TaxDeduction u/s 80-IB – Whether proportionate deduction be allowed - Held that:- The project completed by the appellant had two units above 1500 sq. ft – The conditions prescribed u/s 80-IB(10) are not fulfilled in respect these two units only - If an assessee has developed a housing project, wherein the majority of residential units have a built up area of less than 1500 sq. ft. and only a few residential units are exceeding the built up area of 1500 sq. ft.- It would be fair and reasonable to allow deduction on proportionate basis i.e. on the profit derived from construction of the residential units which have a built up area of less than 1500 sq. ft. – Partly allowed in favour of assessee.
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