https://www.taxtmi.com/caselaws?id=333339 The case involved the interpretation of deduction under section 80IB (10) of the Income Tax Act and the determination of developer status in a housing project. The Tribunal ruled in favor of the assessee, allowing the deduction claimed under section 80IB (10) as the assessee was considered a developer and certain units' excess built-up area was not counted due to the open space attached to a penthouse. The Court upheld the Tribunal's decision, emphasizing the developer's control over the project and clarifying the definition of built-up area and balcony under the Act. The tax appeal by the Revenue was dismissed. en-us Tue, 04 Oct 2016 00:00:00 +0530 Tue, 31 Jan 2017 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333339 The case involved the interpretation of deduction under section 80IB (10) of the Income Tax Act and the determination of developer status in a housing project. The Tribunal ruled in favor of the assessee, allowing the deduction claimed under section 80IB (10) as the assessee was considered a developer and certain units' excess built-up area was not counted due to the open space attached to a penthouse. The Court upheld the Tribunal's decision, emphasizing the developer's control over the project and clarifying the definition of built-up area and balcony under the Act. The tax appeal by the Revenue was dismissed. Case-Laws Income Tax Tue, 04 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333339