https://www.taxtmi.com/caselaws?id=255282 For section 80IB(10) of the Income-tax Act, a developer in possession under a development agreement who has undertaken construction is treated as satisfying the ownership requirement through deemed transfer under section 2(47)(v) read with section 53A of the Transfer of Property Act. Deduction cannot be denied merely because the approval or completion certificate stands in the landowner's name, so the developer remains eligible for the housing project deduction. The same settled principle extends to composite project profits, including profit attributable to unutilized FSI, which also falls within the deduction. en-us Thu, 11 Dec 2014 00:00:00 +0530 Tue, 13 Jan 2015 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255282 For section 80IB(10) of the Income-tax Act, a developer in possession under a development agreement who has undertaken construction is treated as satisfying the ownership requirement through deemed transfer under section 2(47)(v) read with section 53A of the Transfer of Property Act. Deduction cannot be denied merely because the approval or completion certificate stands in the landowner's name, so the developer remains eligible for the housing project deduction. The same settled principle extends to composite project profits, including profit attributable to unutilized FSI, which also falls within the deduction. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255282