https://www.taxtmi.com/caselaws?id=361927 For deduction under Section 80IB(10) of the Income-tax Act, approval and completion certificates issued by a Gram Panchayat for a village housing project were treated as valid sanction by the competent local authority. The Tribunal followed binding jurisdictional precedent holding that, in the context of village projects, the Gram Panchayat can function as the local authority competent to grant approval. As the assessee otherwise satisfied the statutory conditions for the housing-project deduction, the Revenue's objection on competence of sanction failed and the disallowance was set aside. en-us Thu, 14 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361927 For deduction under Section 80IB(10) of the Income-tax Act, approval and completion certificates issued by a Gram Panchayat for a village housing project were treated as valid sanction by the competent local authority. The Tribunal followed binding jurisdictional precedent holding that, in the context of village projects, the Gram Panchayat can function as the local authority competent to grant approval. As the assessee otherwise satisfied the statutory conditions for the housing-project deduction, the Revenue's objection on competence of sanction failed and the disallowance was set aside. Case-Laws Income Tax Thu, 14 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361927