https://www.taxtmi.com/caselaws?id=329594 The High Court upheld the Tribunal's decision, affirming the assessee's entitlement to deduction under Section 80IB(10) of the Income Tax Act and the deletion of the addition made under Section 40(a)(ia) of the Act. The court emphasized the legislative intent to promote housing for lower and middle-income groups, following precedents from Madras and Bombay High Courts. The Tribunal's decision was supported despite the Revenue's argument regarding project completion dates, ultimately leading to the dismissal of the tax appeal. en-us Mon, 20 Jun 2016 00:00:00 +0530 Wed, 06 Jul 2016 04:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329594 The High Court upheld the Tribunal's decision, affirming the assessee's entitlement to deduction under Section 80IB(10) of the Income Tax Act and the deletion of the addition made under Section 40(a)(ia) of the Act. The court emphasized the legislative intent to promote housing for lower and middle-income groups, following precedents from Madras and Bombay High Courts. The Tribunal's decision was supported despite the Revenue's argument regarding project completion dates, ultimately leading to the dismissal of the tax appeal. Case-Laws Income Tax Mon, 20 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329594