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2014 (11) TMI 556 - HC - Income TaxEntitlement for deduction u/s 80IB(10) – Held that:- Following the decision in The Commissioner of Income Tax Business Ward XV(3), Chennai. Versus M/s. Sanghvi and Doshi Enterprise [2012 (12) TMI 84 - MADRAS HIGH COURT] the provisions nowhere require that developers who are the owner of the land alone would be entitled for grant of deduction under Section 80IB(10) - Therefore, assessees were entitled to the benefit u/s 80IB(10) even where the title of the lands had not passed on to the assessees and in some cases, the development permissions may also have been obtained in the name of the original land owners - for the purpose of considering the deduction, it is not necessary that the assessee, engaged in developing and construction of housing project, should be the owner of the property – the order of the Tribunal is upheld – Decided against revenue.
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