https://www.taxtmi.com/caselaws?id=359933 Section 80IB(10) deduction in a composite housing project may be claimed on a year-to-year basis for completed blocks under the percentage completion method, and delay in formal completion certificate issuance will not defeat the claim where the assessee applied in time and the authority did not reject it within the prescribed period. The presence of some flats exceeding the built-up area limit does not require denial of the entire deduction; proportionate relief is available for eligible units. Interest earned on margin money deposits kept for the project may also qualify for deduction where it is integrally linked to the housing undertaking. en-us Fri, 27 Apr 2018 00:00:00 +0530 Wed, 02 May 2018 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359933 Section 80IB(10) deduction in a composite housing project may be claimed on a year-to-year basis for completed blocks under the percentage completion method, and delay in formal completion certificate issuance will not defeat the claim where the assessee applied in time and the authority did not reject it within the prescribed period. The presence of some flats exceeding the built-up area limit does not require denial of the entire deduction; proportionate relief is available for eligible units. Interest earned on margin money deposits kept for the project may also qualify for deduction where it is integrally linked to the housing undertaking. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359933