https://www.taxtmi.com/caselaws?id=218493 The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the assessee the deduction under section 80IB for both assessment years. The ITAT held that the project met the necessary conditions under section 80IB, including approval by the local authority, and that any additional constructed area or non-payment of compounding fees did not disqualify the project from the deduction. The ITAT emphasized a liberal interpretation of tax incentive provisions to promote affordable housing, consistent with legislative intent. en-us Fri, 31 Aug 2012 00:00:00 +0530 Thu, 07 Apr 2016 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218493 The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the assessee the deduction under section 80IB for both assessment years. The ITAT held that the project met the necessary conditions under section 80IB, including approval by the local authority, and that any additional constructed area or non-payment of compounding fees did not disqualify the project from the deduction. The ITAT emphasized a liberal interpretation of tax incentive provisions to promote affordable housing, consistent with legislative intent. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218493