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2016 (8) TMI 316 - AT - Income TaxEligibility of deduction under Section 80IB(10) - necessity of ownership of the land - Held that:- We find that the Hon’ble Gujarat High Court in the case of CIT vs. Radhe Developers (2011 (12) TMI 248 - GUJARAT HIGH COURT ) has held that the provisions nowhere required that only those developers who themselves own the land would receive the deduction under Section 80IB(10) of the Act. Neither the provisions of Section 80IB nor any other provisions contained in other related statutes demonstrate that ownership of the land would be a condition precedent for developing the housing project. Such requirement cannot be read into the statute because there is nothing under Section 80IB(10) of the Act requiring that ownership of the land must vest in the developer to be able to qualify for such deduction. We, therefore, find that the order of the CIT(A) is supported by the order of the Hon’ble jurisdictional High Court. Hence, we do not find any infirmity in the order of the CIT(A) which is hereby confirmed and the grounds of appeal of the Revenue are dismissed. - Decided in favour of assessee
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