https://www.taxtmi.com/caselaws?id=401291 The court ruled in favor of the assessee, allowing deductions under Section 80IB(10) for a housing project. They held that pro-rata deductions can be granted and that the amendment introducing Section 80IB(10)(f) should not apply retrospectively to projects approved before the amendment. The court found the Assessing Officer's disallowance of deductions based on flat allotments to the same individual or family to be incorrect. The court set aside the ITAT's decision, directing the Revenue to allow deductions for the entire project except for one flat. The appeal was partly allowed with no order as to costs. en-us Tue, 01 Dec 2020 00:00:00 +0530 Thu, 24 Dec 2020 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401291 The court ruled in favor of the assessee, allowing deductions under Section 80IB(10) for a housing project. They held that pro-rata deductions can be granted and that the amendment introducing Section 80IB(10)(f) should not apply retrospectively to projects approved before the amendment. The court found the Assessing Officer's disallowance of deductions based on flat allotments to the same individual or family to be incorrect. The court set aside the ITAT's decision, directing the Revenue to allow deductions for the entire project except for one flat. The appeal was partly allowed with no order as to costs. Case-Laws Income Tax Tue, 01 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401291