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| The Tax Publishers2021 TaxPub(DT) 0328 (Bang-Trib) INCOME TAX ACT, 1961
Section 80-IB(10)
In case of assessee engaged in development of housing projects where built-up area of some of the units exceeded 1,500 sq.ft. assessee was entitled to benefit of deduction under section 80-IB(10) proportionately in respect of residential units having built-up area less than or equal to 1,500 sq.ft.
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Deduction under section 80-IB(10) - Income from development of housing projects - Built-up area of some of units exceeding 1,500 sq.ft. -
Assessee engaged in development of housing projects claimed deduction under section 80-IB(10). AO disallowed deduction on the ground that in respect of some of the units built-up area exceeded 1,500 sq.ft. Held: Assessee was entitled to benefit of deduction under section 80-IB(10) proportionately in respect of residential units having built-up area less than or equal to 1,500 sq.ft.
Followed:CIT v. Brigade Enterprises Ltd., I.T.A. No. 373 of 2014 Judgment dated 22-10-2020 : 2020 TaxPub(DT) 4512 (Karn-HC)
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11
IN THE ITAT, BANGALORE BENCH
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