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2022 (9) TMI 342 - AT - Income TaxProportional deduction u/s.80IB(10) - profit on sale of excluding flats measuring more than 1500 sq. ft. limit when all the flats are forming part of a single project as per the provisions of Section 80IB(10) - HELD THAT:- We find that the issue raised in the present appeal is no more res-integra and is squarely covered by the decision of the Hon’ble Jurisdictional High Court in assessee’s own case [2017 (11) TMI 1999 - CHHATTISGARH HIGH COURT] We find that the Hon’ble Supreme Court in the case of Commissioner of Income Tax V. Shreenath Buildcon [2018 (12) TMI 1723 - SC ORDER] had held, that where the constructed area of some residential units exceeded the specified built up area of 1500 sq. ft, then, deduction claimed could not be denied in respect of the entire housing project. We, thus, in terms of our aforesaid observations finding no infirmity in the view taken by CIT(Appeals) who had rightly directed the A.O to restrict the disallowance of the assessee’s claim for deduction u/s 80IB(10) proportionately in respect of allotment of sales transactions which do not comply with the conditions of section 80IB(10) and, allow the remaining deduction as claimed by the assessee, thus, uphold the same. Thus, the grounds of appeal raised by the department are dismissed in terms of our aforesaid observations. Appeal of the department is dismissed
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