TMI Blog2015 (7) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... t:- The interpretation placed on sub-clause (c) of clause (10) by the CIT (A) and affirmed by the ITAT is plausible. The provision is capable of being construed in a manner that is beneficial to the Assessee by allowing the deduction pro rata the number of residential units that have complied with the requirement in Section 80 1B(10)(c) viz., that the maximum build up area should not exceed 1000 s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 IB(10) of the Act could not have been restricted by the CIT(Appeals) and the ITAT to the individual residential units that did not comply with the requirement under Section 80 IB (10) (c) of the Act. 3. The Respondent Assessee engaged in the business of real estate developers and builders was subject to a survey action under Section 133A on 27th March 2008. Several additions were made in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affirmed by the ITAT in the impugned order. 5. Having heard Ms. Suruchi Aggarwal, learned Senior standing counsel for the Appellant, and having examined Section 80 IB (10) of the Act, the Court finds that the interpretation placed on sub-clause (c) of clause (10) by the CIT (A) and affirmed by the ITAT is plausible. The provision is capable of being construed in a manner that is beneficial to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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