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2016 (10) TMI 1204 - BOMBAY HIGH COURTDeduction u/s 80IB(10) - commencement certificate by the Municipal Authorities for the housing project - project be on the size of a plot of land which has a minimum area of one acre - Held that:- Date on which the earlier housing project had commenced construction could not be applied to the housing project consisting of 'E' building merely because the conditions set out while granting approval to the earlier housing project have also been made applicable to the housing project in question. Section 80IB(10) does not suggest that the plot of land must be vacant. Deduction is available on construction of a housing project on a plot having area of one acre, irrespective of the fact that there exist other housing projects or not. Further, as contended by Revenue that two flats were merged and size of flat exceeded 1000 sq ft – It is found that there was no merger of flats. Therefore, Tribunal rightly allowed deduction u/s 80IB - See Commissioner of Income tax 25 vs. Vandana Properties [2012 (4) TMI 54 - BOMBAY HIGH COURT]– Decided in favor of assessee.
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