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2014 (1) TMI 1430 - ITAT MUMBAIEligibility for deduction u/s 80IB(10) of the Act – Limit exceed as provided in the section - SLP pending before the SC – Held that:- The restriction on the commercial area imposed by the introduction of sub-section (d) to section 801B(10) w.e.f. 1.4.2005 are therefore not applicable to the appellant as this project having commercial area had commenced prior to the said date – thus, the housing projects commencing construction before the introduction of the amended provisions, made effective from 1.4.2005, would be entitled for deduction u/s. 801B(10) even though it contained the commercial area - Relying upon CIT vs. Brahma Associates [2011 (2) TMI 373 - BOMBAY HIGH COURT] – the claim of deduction u/s.801B(10) is allowable to the appellant - There was no reason to interfere with the order of the ld. CIT(A) - the project was approved as a housing project and the commercial area is even less than 5% - Decided against Revenue.
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