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2019 (4) TMI 1385 - HC - Income TaxDeduction u/s 80IB - assessee was awarded contract by the SRA under Slum Rehabilitation Programme for development of a plot of land - whether CBDT's Notification dated 05.01.2011 speaks of the SRA Scheme being eligible u/s. 80IB and not the contractor (the executor) who is clearly barred from the deduction u/s. 80IB ? - HELD THAT:- Nothing contained in clauses (a) or (b) of Section 80IB(10) would apply to the housing project carried out in accordance with a scheme framed by the Central Government or a State Government for reconstruction or redevelopment of existing building in areas, declared to be slum areas under any law for the time being in force and such scheme is notified by the board in this behalf. Thus, the schemes as duly notified by the board for redevelopment of slum areas, have been given special concession, given their special requirements. Once such a notification as referred to in the said proviso is issued by the CBDT, requirements of clauses (a) and (b) of Section 80IB(10) of the Act would not apply to such projects. In the present case, we may recall such notification has already been issued, covering all Slum Redevelopment Schemes prepared by the State of Maharashtra under the Maharashtra Redevelopment Town Planning Act. It was under such scheme that, the assessee had engaged itself in developing housing project. - Decided against revenue
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