https://www.taxtmi.com/caselaws?id=353460 The High Court ruled in favor of the revenue, disallowing deductions claimed by a construction company under Sections 80 IA(4F) and 80 IB(10) of the Income Tax Act, 1961. The court emphasized the requirement that development and construction of housing projects must commence after 1.10.1998 to qualify for benefits. As the company had initiated earth leveling before the specified date, the court held that project commencement predated the eligibility period. Consequently, the revenue's appeals were allowed, overturning the Income Tax Appellate Tribunal's decision to grant deductions. en-us Tue, 02 Jan 2018 00:00:00 +0530 Thu, 04 Jan 2018 09:24:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353460 The High Court ruled in favor of the revenue, disallowing deductions claimed by a construction company under Sections 80 IA(4F) and 80 IB(10) of the Income Tax Act, 1961. The court emphasized the requirement that development and construction of housing projects must commence after 1.10.1998 to qualify for benefits. As the company had initiated earth leveling before the specified date, the court held that project commencement predated the eligibility period. Consequently, the revenue's appeals were allowed, overturning the Income Tax Appellate Tribunal's decision to grant deductions. Case-Laws Income Tax Tue, 02 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353460