https://www.taxtmi.com/caselaws?id=259319 The Supreme Court upheld the High Courts' consistent interpretation that projects approved by local authorities qualify as "housing projects" under Section 80IB(10) of the Income Tax Act, even if they include commercial elements. The Court clarified that as long as the primary nature of the project is residential and commercial activities are within prescribed limits and comply with Development Control Regulations, the deduction can be claimed. The Court dismissed the argument that projects labeled as "residential plus commercial" do not qualify, emphasizing the importance of residential nature with ancillary commercial activities. en-us Tue, 28 Apr 2015 00:00:00 +0530 Tue, 05 May 2015 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259319 The Supreme Court upheld the High Courts' consistent interpretation that projects approved by local authorities qualify as "housing projects" under Section 80IB(10) of the Income Tax Act, even if they include commercial elements. The Court clarified that as long as the primary nature of the project is residential and commercial activities are within prescribed limits and comply with Development Control Regulations, the deduction can be claimed. The Court dismissed the argument that projects labeled as "residential plus commercial" do not qualify, emphasizing the importance of residential nature with ancillary commercial activities. Case-Laws Income Tax Tue, 28 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259319