https://www.taxtmi.com/caselaws?id=325231 Deduction under section 80IB(10) can be available to a housing-project developer even where legal title in the land is not in its name, if the developer has possession, dominant control, and bears the entrepreneurial risk of development and sale. On the stated facts, the assessee entered into development agreements, executed the project at its own cost and risk, fixed sale prices, received sale proceeds, and retained the project's profit and loss. These features showed de facto ownership and demonstrated that it was not a mere works contractor. The reported position is that ownership of title is not a prerequisite for the deduction where the developer has effectively undertaken the project. en-us Wed, 02 Mar 2016 00:00:00 +0530 Mon, 14 Mar 2016 12:14:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325231 Deduction under section 80IB(10) can be available to a housing-project developer even where legal title in the land is not in its name, if the developer has possession, dominant control, and bears the entrepreneurial risk of development and sale. On the stated facts, the assessee entered into development agreements, executed the project at its own cost and risk, fixed sale prices, received sale proceeds, and retained the project's profit and loss. These features showed de facto ownership and demonstrated that it was not a mere works contractor. The reported position is that ownership of title is not a prerequisite for the deduction where the developer has effectively undertaken the project. Case-Laws Income Tax Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325231