Housing-project deduction remains available where prior identical issues are settled and later commercial-area conditions do not apply retrospectively.

Contractual profit allocation did not alter the housing-project deduction where the identical issue had already been resolved for the same assessee. The commercial-area condition under Section 80IB(10) applied only to projects approved on or after 01.04.2005, so it did not affect earlier approved projects. Separate municipal approvals for commercial and residential areas also did not defeat the deduction claim because the issue had previously been settled without distinguishing facts or law. The article notes that no substantial question of law arose and the claimed deduction remained undisturbed.

---

---

Issues: (i) Whether the contractual allocation of profits could alter the deduction available for a housing project; (ii) Whether the condition concerning commercial area under Section 80IB(10) applied to projects approved before 01.04.2005; (iii) Whether separate municipal approvals for commercial and residential areas affected the deduction claim.

Issue (i): Whether the contractual allocation of profits could alter the deduction available for a housing project.

Analysis: The issue was governed by the earlier decision concerning the same assessee for the preceding assessment year, in which the Revenue's appeal had been dismissed.

Conclusion: No substantial question of law arose; the issue was decided against the Revenue.

Issue (ii): Whether the condition concerning commercial area under Section 80IB(10) applied to projects approved before 01.04.2005.

Analysis: Binding decisions had concluded that the condition was applicable only to projects approved on or after 01.04.2005.

Conclusion: No substantial question of law arose; the issue was decided against the Revenue.

Issue (iii): Whether separate municipal approvals for commercial and residential areas affected the deduction claim.

Analysis: The identical issue had been resolved in favour of the assessee for an earlier assessment year, and no distinguishing facts or law were shown.

Conclusion: No substantial question of law arose; the issue was decided against the Revenue.

Final Conclusion: The assessee's entitlement to the claimed housing-project deduction remained undisturbed for both assessment years.

Ratio Decidendi: Where an identical tax issue has been conclusively settled for the same assessee and no distinguishing facts or law are established, no substantial question of law arises for further appellate consideration.

---