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2014 (7) TMI 90 - HC - Income TaxDeduction u/s 80IB (10) - Built up area – Effect of amendment from 1-4-2005 - Whether the Tribunal was justified in holding that the area of balcony and rewas are not to be included while computing the built up area of the residential units in a housing project eligible for deduction u/s 80IB (10) of the Act – Held that:- If the expression 'built up area' in a housing project approved by the local authority does not include the balcony area, then, prior to 1st April 2005 it would apply while considering the eligibility u/s 80IB (10) of the Act - where the Legislature with effect from a particular date has defined a particular expression by including a meaning which is not ordinarily included in that expression, then, the definition cannot be applied retrospectively - the inclusive definition of the expression 'built up area' introduced with effect from 1st April 2005 could not be applied retrospectively and the CESTAT was justified in holding that upto 1st April 2005, the expression 'built up area' would exclude the balcony area – CESTAT was justified in holding that the assessee was entitled to Section 80IB (10) deduction – Decided against Revenue.
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