https://www.taxtmi.com/caselaws?id=280722 For deduction under section 80-IB(10), a housing project was interpreted in its ordinary commercial sense as a residential development comprising one building or a group of buildings, and the assessee's project qualified on that basis. The assessee was treated as a developer, not a works contractor, because it controlled development, took possession, arranged infrastructure, negotiated with buyers and bore commercial risk. The statutory conditions on approval, completion and minimum plot area were also found satisfied on the facts. An open terrace was not included in built-up area because it was not a balcony or projection under the statutory definition, so the area limit was not breached. The deduction was therefore upheld. en-us Tue, 12 Nov 2013 00:00:00 +0530 Tue, 10 Jan 2023 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280722 For deduction under section 80-IB(10), a housing project was interpreted in its ordinary commercial sense as a residential development comprising one building or a group of buildings, and the assessee's project qualified on that basis. The assessee was treated as a developer, not a works contractor, because it controlled development, took possession, arranged infrastructure, negotiated with buyers and bore commercial risk. The statutory conditions on approval, completion and minimum plot area were also found satisfied on the facts. An open terrace was not included in built-up area because it was not a balcony or projection under the statutory definition, so the area limit was not breached. The deduction was therefore upheld. Case-Laws Income Tax Tue, 12 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280722