https://www.taxtmi.com/caselaws?id=399594 The High Court upheld the Tribunal's decision allowing proportionate deduction under Section 80IB for profits from units below 1500 sq.ft. It ruled in favor of the assessee, emphasizing the project-based nature of the deduction under Section 80IB(10) rather than unit-based. The judgment clarified the interpretation of Section 80IB, highlighting the importance of understanding the specific provisions of the Income Tax Act for eligibility of deductions. en-us Tue, 22 Sep 2020 00:00:00 +0530 Wed, 14 Oct 2020 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399594 The High Court upheld the Tribunal's decision allowing proportionate deduction under Section 80IB for profits from units below 1500 sq.ft. It ruled in favor of the assessee, emphasizing the project-based nature of the deduction under Section 80IB(10) rather than unit-based. The judgment clarified the interpretation of Section 80IB, highlighting the importance of understanding the specific provisions of the Income Tax Act for eligibility of deductions. Case-Laws Income Tax Tue, 22 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399594