https://www.taxtmi.com/caselaws?id=121043 Deduction under section 80-IB(10) was held to depend on whether the assessee undertook and executed an approved housing project within the statutory conditions; legal ownership of the land was not treated as an implied prerequisite. The assessee was regarded as the developer because it had possession, control, development rights, responsibility for permissions, construction, marketing, and completion, even though title and municipal approval stood in the landowners' names. The deduction was also not to be curtailed merely because the entire permissible FSI was not utilised, since the provision does not require full exhaustion of FSI and the profits remained derived from the eligible housing project. en-us Fri, 29 Jun 2007 00:00:00 +0530 Mon, 15 Sep 2025 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121043 Deduction under section 80-IB(10) was held to depend on whether the assessee undertook and executed an approved housing project within the statutory conditions; legal ownership of the land was not treated as an implied prerequisite. The assessee was regarded as the developer because it had possession, control, development rights, responsibility for permissions, construction, marketing, and completion, even though title and municipal approval stood in the landowners' names. The deduction was also not to be curtailed merely because the entire permissible FSI was not utilised, since the provision does not require full exhaustion of FSI and the profits remained derived from the eligible housing project. Case-Laws Income Tax Fri, 29 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121043