https://www.taxtmi.com/caselaws?id=218452 The Tribunal allowed the assessee's appeal regarding the denial of deduction under section 80IB(10) of the Income-tax Act, 1961. The Tribunal emphasized the purpose of promoting housing projects and clarified that the completion certificate should be obtained on the completion of the housing project as a whole, not necessarily each year. Denying the deduction based on the non-availability of the completion certificate in the impugned year was deemed unreasonable, especially when following the percentage completion method. The Tribunal directed the Assessing Officer to grant the deduction in alignment with the Act's scheme. en-us Fri, 21 Sep 2012 00:00:00 +0530 Mon, 05 Nov 2012 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218452 The Tribunal allowed the assessee's appeal regarding the denial of deduction under section 80IB(10) of the Income-tax Act, 1961. The Tribunal emphasized the purpose of promoting housing projects and clarified that the completion certificate should be obtained on the completion of the housing project as a whole, not necessarily each year. Denying the deduction based on the non-availability of the completion certificate in the impugned year was deemed unreasonable, especially when following the percentage completion method. The Tribunal directed the Assessing Officer to grant the deduction in alignment with the Act's scheme. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218452