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2019 (6) TMI 757 - HC - Income TaxDeduction u/s. 80IB(10) - project as a whole was not primarily developed and built by the assessee itself - assessee is a contractors executing works contract - HELD THAT - The order passed by the coordinate bench in 2018 (10) TMI 508 - GUJARAT HIGH COURT is in connection with the very same assessee and the issue was also with regard to deduction under Section 80IB(10) and court has held that the assessee had undertaken the development of housing project at their own risk and cost. The owner of the land had accepted the full price of the land. He was therefore not concerned with the successor or failure of the housing project. In such background reference was made to the definition of term transfer under section 2(47) of the Act and held that merely because the land was held by the original owner when the housing development project was executed would not be detrimental to the assessee s claim of deduction u/s 80IB(10). Decided against the Revenue
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