https://www.taxtmi.com/caselaws?id=235491 The Tribunal partially allowed the appeal concerning the disallowance of a deduction claimed under section 80-IB(10) of the Income Tax Act. It held that the project, approved as a "residential plus commercial project" by the Navi Mumbai Municipal Corporation, met the eligibility criteria for the deduction. The incorrect calculation of the commercial area percentage was rectified, confirming the assessee's entitlement to the deduction. The Tribunal clarified that the reassessment proceedings could only grant deductions to the extent disallowed initially, directing the allowance of the deduction for the amount disallowed in the present proceedings. en-us Fri, 25 Mar 2011 00:00:00 +0530 Tue, 17 May 2016 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235491 The Tribunal partially allowed the appeal concerning the disallowance of a deduction claimed under section 80-IB(10) of the Income Tax Act. It held that the project, approved as a "residential plus commercial project" by the Navi Mumbai Municipal Corporation, met the eligibility criteria for the deduction. The incorrect calculation of the commercial area percentage was rectified, confirming the assessee's entitlement to the deduction. The Tribunal clarified that the reassessment proceedings could only grant deductions to the extent disallowed initially, directing the allowance of the deduction for the amount disallowed in the present proceedings. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235491