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2015 (7) TMI 1302 - HC - Income TaxDisallowance of deduction u/s 80 IB(10) - proportionate deduction - out of 122 dwelling units constructed by the Respondent Assessee in one block 50 units exceeded the maximum limit and in the other project 26 units violated the maximum limit - claim of the assessee on “pro rata” basis - Held that:- The interpretation placed on sub-clause (c) of clause (10) by the CIT (A) and affirmed by the ITAT is plausible. The provision is capable of being construed in a manner that is beneficial to the Assessee by allowing the deduction pro rata the number of residential units that have complied with the requirement in Section 80 1B(10)(c) viz., that the maximum build up area should not exceed 1000 sq.ft. It is not in dispute that as far as the units in the two blocks constructed by the Assessee all other requirements of Section 80 IB (10) (c) stand fulfilled. No substantial question of law
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