https://www.taxtmi.com/caselaws?id=203005 The Tribunal allowed the appeal concerning the disallowance of a deduction under s. 80-IB(10) for a housing project. It held that the claimant could use the "project percentage method" for claiming the deduction, rejecting the Revenue's argument that only the "project completion method" was valid. Emphasizing the liberal construction of the provision to boost the housing sector, the Tribunal ruled that the deduction should align with the year of profit taxation. The disallowance was overturned, affirming that the deduction is available even for incomplete projects, benefiting the assessee. en-us Fri, 29 May 2009 00:00:00 +0530 Thu, 28 Apr 2011 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203005 The Tribunal allowed the appeal concerning the disallowance of a deduction under s. 80-IB(10) for a housing project. It held that the claimant could use the "project percentage method" for claiming the deduction, rejecting the Revenue's argument that only the "project completion method" was valid. Emphasizing the liberal construction of the provision to boost the housing sector, the Tribunal ruled that the deduction should align with the year of profit taxation. The disallowance was overturned, affirming that the deduction is available even for incomplete projects, benefiting the assessee. Case-Laws Income Tax Fri, 29 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203005