https://www.taxtmi.com/caselaws?id=213271 The High Court granted relief to the assessee, a construction company, under Section 80IB(10) of the Income Tax Act. It held that the definition of "built-up area" inserted in 2005 was prospective and did not apply to projects approved before that date, entitling the assessee to the benefit for residential units. Additionally, the Court ruled in favor of the assessee for all flats under Section 80IB, allowed the assessing officer's jurisdiction post a search, and remitted the disallowance of cash payments under Section 40A(3) for further consideration. The outcome provided relief to the assessee based on correct legal interpretation. en-us Wed, 29 Feb 2012 00:00:00 +0530 Fri, 28 Jun 2013 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213271 The High Court granted relief to the assessee, a construction company, under Section 80IB(10) of the Income Tax Act. It held that the definition of "built-up area" inserted in 2005 was prospective and did not apply to projects approved before that date, entitling the assessee to the benefit for residential units. Additionally, the Court ruled in favor of the assessee for all flats under Section 80IB, allowed the assessing officer's jurisdiction post a search, and remitted the disallowance of cash payments under Section 40A(3) for further consideration. The outcome provided relief to the assessee based on correct legal interpretation. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213271