High Court denies deduction under sections 80IB(10) and 80IB(1) to assessee. Approval granted to landowner.

The Gujarat High Court held that the deduction under sections 80IB(10) and 80IB(1) could not be allowed to the assessee as the approval and completion certificate were granted to the landowner, not the assessee, and the transfer of dwelling units was also done by the landowner, not the assessee. The Tax Appeal was dismissed in favor of the revenue authorities.

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The Gujarat High Court admitted a Tax Appeal to consider the substantial question of law regarding the deduction under sections 80IB(10) and 80IB(1) for the assessee. The issue was whether the Appellate Tribunal was correct in allowing the deduction when the approval and completion certificate were granted to the landowner, not the assessee, and the transfer of dwelling units was done by the landowner, not the assessee.

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