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2023 (9) TMI 895 - GUJARAT HIGH COURTDeduction u/s 80IB(10) - claim denied as there were separate approvals for each plots and therefore, the condition of approval of a housing project is not satisfied - HELD THAT:- A.O. did not bear in mind the specific provisions laid down in the Act which leave no room to doubt that in a case where the approval in respect of the housing project is obtained more than once, such housing project shall be deemed to have been approved on the date on which the building plan of such housing project is first approved by the local authority. After having regard to the facts of the case, relevant provisions of the Act and the decision of the jurisdiction High Court in the case of B.M. and Brothers [2013 (10) TMI 290 - GUJARAT HIGH COURT] on the issue, in my considered opinion, the assessee was eligible to avail claim of deduction u/s. 80IB (10) of the Act on the profits earned from the project under consideration. Accordingly, this ground of appeal is allowed.
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