https://www.taxtmi.com/caselaws?id=237826 Section 80IB(10) allows deduction to an undertaking that develops and builds an approved housing project, and ownership of the land is not a mandatory condition. Where the development agreement shows that the assessee had full control over the project, bore the investment risk, carried out construction at its own cost, and appropriated profits and losses, the assessee is treated as the developer rather than a mere works contractor. Possession and part performance may also attract the deeming effect of transfer under Section 2(47)(v) read with Section 53A, supporting the claim even before legal title passes. The deduction is therefore not denied merely because approvals stand in the landowners' names. en-us Wed, 11 Jan 2012 00:00:00 +0530 Tue, 08 Oct 2013 21:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237826 Section 80IB(10) allows deduction to an undertaking that develops and builds an approved housing project, and ownership of the land is not a mandatory condition. Where the development agreement shows that the assessee had full control over the project, bore the investment risk, carried out construction at its own cost, and appropriated profits and losses, the assessee is treated as the developer rather than a mere works contractor. Possession and part performance may also attract the deeming effect of transfer under Section 2(47)(v) read with Section 53A, supporting the claim even before legal title passes. The deduction is therefore not denied merely because approvals stand in the landowners' names. Case-Laws Income Tax Wed, 11 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237826