https://www.taxtmi.com/caselaws?id=280052 The Tribunal upheld the CIT(A)'s decision, allowing proportionate deductions under Section 80IB(10) for residential units exceeding 1000 square feet. It also ruled that the amendment restricting commercial area to 5% of the total built-up area or 2000 square feet, effective from 1.4.2005, did not apply retroactively to projects approved before that date. Consequently, the revenue's appeals were dismissed, affirming the assessee's entitlement to deductions and the prospective nature of the commercial area restriction amendment. en-us Fri, 03 Jun 2011 00:00:00 +0530 Thu, 18 Apr 2019 14:24:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280052 The Tribunal upheld the CIT(A)'s decision, allowing proportionate deductions under Section 80IB(10) for residential units exceeding 1000 square feet. It also ruled that the amendment restricting commercial area to 5% of the total built-up area or 2000 square feet, effective from 1.4.2005, did not apply retroactively to projects approved before that date. Consequently, the revenue's appeals were dismissed, affirming the assessee's entitlement to deductions and the prospective nature of the commercial area restriction amendment. Case-Laws Income Tax Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280052