https://www.taxtmi.com/caselaws?id=254377 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision, allowing the deduction under Section 80IB(10). It was determined that the definition of built-up area introduced in 2005 could not be applied retrospectively. The units in question complied with PMC rules at the project's commencement, and modifications by purchasers post-possession did not impact eligibility for the deduction. The Tribunal stressed substantial compliance with Section 80IB(10) provisions, supporting the assessee's claim for the deduction. en-us Tue, 02 Dec 2014 00:00:00 +0530 Sat, 20 Dec 2014 06:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254377 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision, allowing the deduction under Section 80IB(10). It was determined that the definition of built-up area introduced in 2005 could not be applied retrospectively. The units in question complied with PMC rules at the project's commencement, and modifications by purchasers post-possession did not impact eligibility for the deduction. The Tribunal stressed substantial compliance with Section 80IB(10) provisions, supporting the assessee's claim for the deduction. Case-Laws Income Tax Tue, 02 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254377