https://www.taxtmi.com/caselaws?id=380398 The Tribunal partially allowed the Revenue's appeal challenging the eligibility of the assessee for deduction under section 80-IB(10) for a property development project. The Tribunal concluded that the project qualified as a composite project in an area exceeding one acre, meeting the necessary conditions for the deduction. It directed the AO to allow the deduction for the built-up area exceeding 1500 sq. ft on a proportionate basis, in line with previous judicial decisions and statutory provisions. Compliance with the Act's requirements was emphasized, ultimately resulting in the allowance of the deduction for the project. en-us Fri, 17 May 2019 00:00:00 +0530 Mon, 20 May 2019 07:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380398 The Tribunal partially allowed the Revenue's appeal challenging the eligibility of the assessee for deduction under section 80-IB(10) for a property development project. The Tribunal concluded that the project qualified as a composite project in an area exceeding one acre, meeting the necessary conditions for the deduction. It directed the AO to allow the deduction for the built-up area exceeding 1500 sq. ft on a proportionate basis, in line with previous judicial decisions and statutory provisions. Compliance with the Act's requirements was emphasized, ultimately resulting in the allowance of the deduction for the project. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380398