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2015 (1) TMI 818 - HC - Income TaxDeduction u/s 80IB(10) - Housing project which also had certain units exceeding the prescribed ceiling on the built up area, the profits from the other units can be worked out separately and allowed deduction u/s 80IB(10), subject to fulfilling other conditions prescribed under the said section - Held that:- The Tribunal has taken a consistent view that if some of the flats are constructed in violation of the conditions of builtup area, then, the proportionate deduction will have to be reduced. Now, the proportionate deduction is available only when other conditions as regards the area of the plot is satisfied. The Tribunal applied the other condition, namely, project is on the size of the plot of a land which has a minimum area of one acre. Therefore, it does not affect the condition and section 80IB(10) benefit or deduction cannot be denied on that score. The Tribunal approved the finding of Commissioner of Income Tax. The Tribunal itself notes as to how the area crossed the limits only at the time of sale, that is, when the buyer requested the developer to alter the area and by either withdrawing or adding a portion from adjacent flats. The Developer adhered to the mandatory condition of the Construction not exceeding one thousand square feet whole completing the developmental work. In such circumstances, and when a finding rendered against the Assessee has been upheld by the Tribunal, then, all the more we do not see any substantial question of law. - Decided against revenue.
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