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2015 (8) TMI 888 - HC - Income TaxEligibility for deduction u/s.80IB(10) - Whether Tribunal was justified in holding that the deduction u/s. 80IB(10) is admissible to a Housing Project on the size of two plots of land together making minimum area of one acre? - whether admissible to a Housing Project comprising of residential and commercial units?" - Held that:- Revenue very fairly states that the impugned order of the Tribunal has followed its orders dated 4 May 2012 for the Assessment Years 2005-06 and 2006-07. Being aggrieved, the revenue had filed two appeals in respect of the order dated 4 May 2012 for each of the two Assessment Years i.e. 2005-06 and 2006-07 [2015 (8) TMI 860 - BOMBAY HIGH COURT] and [2015 (8) TMI 859 - BOMBAY HIGH COURT] wherein held it is not in dispute that where a project is approved as a housing project without or with commercial user to the extent permitted under the rules / Regulations, then, deduction under section 80-IB(10) would be allowable. In other words, if a project could be approved as a housing project having residential units with permissible commercial user, then it is not open to the income tax authorities to contend that the expression “housing project” in section 80-IB(10) is applicable to projects having only residential units. This Court by orders dated 4 December 2014 and 9 January 2015 in respect of each appeal respectively were not entertained as it did not give rise to any substantial question of law. - Decided against revenue.
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