https://www.taxtmi.com/caselaws?id=259681 The SC held that Section 80IB(10)(d) of the Income Tax Act, 1961, which restricts the built-up area of commercial establishments in housing projects, applies prospectively and not retrospectively. For housing projects approved before 31.03.2005 but completed on or after 01.04.2005, the amended commercial area restrictions do not apply. The court emphasized that the provision aims to encourage affordable housing and that the legislative amendments effective from 01.04.2005 cannot be imposed on projects sanctioned and commenced prior to that date. Consequently, the HC was upheld in granting the deduction under Section 80IB(10) to the assessee, as the project met the conditions applicable at the time of its approval and commencement. en-us Fri, 15 May 2015 00:00:00 +0530 Mon, 28 Jul 2025 14:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259681 The SC held that Section 80IB(10)(d) of the Income Tax Act, 1961, which restricts the built-up area of commercial establishments in housing projects, applies prospectively and not retrospectively. For housing projects approved before 31.03.2005 but completed on or after 01.04.2005, the amended commercial area restrictions do not apply. The court emphasized that the provision aims to encourage affordable housing and that the legislative amendments effective from 01.04.2005 cannot be imposed on projects sanctioned and commenced prior to that date. Consequently, the HC was upheld in granting the deduction under Section 80IB(10) to the assessee, as the project met the conditions applicable at the time of its approval and commencement. Case-Laws Income Tax Fri, 15 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259681