https://www.taxtmi.com/caselaws?id=290485 The High Court upheld the Tribunal's decision allowing proportionate deduction under Section 80IB for a construction project, despite certain flats exceeding the 1500 sq.ft. limit. The Court found the Tribunal's interpretation correct, entitling the assessee to the benefit. Additionally, the Court affirmed the assessee's entitlement to claim deduction for profits from the sale of residential units below 1500 sq.ft., holding that the mezzanine floors and flats were registered separately. The Court dismissed the appeals, directing the Assessing Authority to consider statutory provisions and its interpretation for just outcomes. en-us Wed, 08 Mar 2017 00:00:00 +0530 Wed, 30 Sep 2020 08:14:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290485 The High Court upheld the Tribunal's decision allowing proportionate deduction under Section 80IB for a construction project, despite certain flats exceeding the 1500 sq.ft. limit. The Court found the Tribunal's interpretation correct, entitling the assessee to the benefit. Additionally, the Court affirmed the assessee's entitlement to claim deduction for profits from the sale of residential units below 1500 sq.ft., holding that the mezzanine floors and flats were registered separately. The Court dismissed the appeals, directing the Assessing Authority to consider statutory provisions and its interpretation for just outcomes. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290485