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2021 (4) TMI 1103 - HC - Income TaxProportionate deduction u/s 80IB(10) with respect to the units less than 1500 sq.ft. where the housing project contains units with built up area exceeding 1500 sq.ft. - HELD THAT:- Question of law involved in the present appeal is covered by the decision of the Hon'ble Division Bench of this Court reported in Commissioner of Income-tax, Chennai Vs. Elegant Estates [2016 (1) TMI 502 - MADRAS HIGH COURT] the question of law is decided against the Revenue and in favour of the assessee wherein held as assessee will be entitled for deduction u/s 80IB(10) with respect to income from flats measuring less than 1500 sq ft limit and assessee will not entitled for deduction u/s 80IB(10) proportionately only with respect to the income from the 2 flats exceeding the limit of 1500 sq ft when the assessee had considered all the flats as forming part of single project on interpretation of the provisions of section 80IB(10)(c) - the language used in the relevant provision of law does not bar a deduction claim altogether if some of the units sold exceed the specified dimensions. - Decided in favour of the assessee
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