https://www.taxtmi.com/caselaws?id=183329 The Tribunal dismissed the Revenue's appeal challenging the deduction under section 80IB(10) for profit from a residential building development. It upheld the CIT (A)'s decision to allow the deduction, emphasizing a liberal interpretation of the proviso to section 80IB(10) for project approval by the Slum Rehabilitation Authority. The Tribunal ruled that time limits for project completion under subsection-10 of section 80IB should not override the main enactment, supporting genuine claims for deductions in socio-economic projects. en-us Tue, 05 Aug 2014 00:00:00 +0530 Mon, 06 Jun 2016 11:18:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183329 The Tribunal dismissed the Revenue's appeal challenging the deduction under section 80IB(10) for profit from a residential building development. It upheld the CIT (A)'s decision to allow the deduction, emphasizing a liberal interpretation of the proviso to section 80IB(10) for project approval by the Slum Rehabilitation Authority. The Tribunal ruled that time limits for project completion under subsection-10 of section 80IB should not override the main enactment, supporting genuine claims for deductions in socio-economic projects. Case-Laws Income Tax Tue, 05 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183329