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2015 (8) TMI 859 - HC - Income TaxDeduction under section 80IB(10) - Held that:- It is not in dispute that where a project is approved as a housing project without or with commercial user to the extent permitted under the rules / Regulations, then, deduction under section 80-IB(10) would be allowable. In other words, if a project could be approved as a housing project having residential units with permissible commercial user, then it is not open to the income tax authorities to contend that the expression “housing project” in section 80-IB(10) is applicable to projects having only residential units. See M/s. Happy Home Enterprises case [2014 (9) TMI 707 - BOMBAY HIGH COURT] - Decided against revenue. Thus if other project styled as “Tulsi” is part or extension of Vrindavan Project, then, Vrindavan Project is entitled to the benefit and deduction under section 80IB(10), Tulsi Project will also be entitled for the same.
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