https://www.taxtmi.com/caselaws?id=235052 The Tribunal upheld the assessee's grievance and rejected the Assessing Officer's challenge, dismissing the appeal and pronouncing the judgment in favor of the assessee on 12th August, 2011. The Tribunal concluded that the deduction u/s.80IB(10) should have been allowed to the assessee, as each flat was deemed an independent residential unit as per approved building plans, even if multiple flats were merged into larger units. The Tribunal emphasized that the legislative amendment restricting sales to family members was prospective and did not apply retrospectively. en-us Fri, 12 Aug 2011 00:00:00 +0530 Tue, 09 Jul 2013 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235052 The Tribunal upheld the assessee's grievance and rejected the Assessing Officer's challenge, dismissing the appeal and pronouncing the judgment in favor of the assessee on 12th August, 2011. The Tribunal concluded that the deduction u/s.80IB(10) should have been allowed to the assessee, as each flat was deemed an independent residential unit as per approved building plans, even if multiple flats were merged into larger units. The Tribunal emphasized that the legislative amendment restricting sales to family members was prospective and did not apply retrospectively. Case-Laws Income Tax Fri, 12 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235052