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2016 (6) TMI 180 - AT - Income TaxEligibility of deduction u/s, 80IB(10) - whether the assessee has violated the condition that the housing units shall not exceed 1000 sq.ft area by construction of flats of more than the area prescribed? - Held that:- The assessee firm has sold 10 flats whereby there is a non-compliance of provisions of clause (e) & (f) of Section 80IB (10) of the Act , which newly introduces clauses (e) & (f) of Section 80IB (10) of the Act are duly applicable for the assessment year 2010-11 under consideration in this appeal, whereby deduction u/s 80IB(10) of the Act has been been disallowed by the learned CIT(A) with respect to ten flats sold infringing the above clauses. The assessee firm, however, with respect to four flats is entitled for proportionate deduction u/s 80IB(10) of the Act in respect of four flats sold to various persons , other than the persons specified in clauses (e) and (f) of Section 80IB(10) and where area of each flat sold is less than 1000 square feet, in accordance with the terms indicated by the Tribunal in its orders [2014 (10) TMI 259 - ITAT MUMBAI] as issue is squarely covered with the ratio of law laid down by the Tribunal in afore-stated decision(s) which we respectfully follow with respect to four flats as per terms indicated above , while deductions u/s 80IB(10) of the Act is disallowed with respect to ten flats as there is non-compliance of provisions of Section 80(IB) of the Act clauses (e) and (f) as applicable to the instant assessment year 2010-11.
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