https://www.taxtmi.com/caselaws?id=293673 The appellant successfully argued for the allowability of deduction under section 80IB of the Income Tax Act for their residential and commercial building projects. Despite exceeding the specified size limit in some units, judicial precedents supported the proportional allowability of the deduction, emphasizing that the benefit should not be denied entirely. The court upheld the appellant's claim, citing previous rulings that clarified the deduction loss only applied to units exceeding the prescribed area. The judgment underscored the importance of adhering to statutory conditions and relying on judicial precedents in interpreting tax provisions. en-us Fri, 20 Apr 2018 00:00:00 +0530 Wed, 24 Feb 2021 09:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293673 The appellant successfully argued for the allowability of deduction under section 80IB of the Income Tax Act for their residential and commercial building projects. Despite exceeding the specified size limit in some units, judicial precedents supported the proportional allowability of the deduction, emphasizing that the benefit should not be denied entirely. The court upheld the appellant's claim, citing previous rulings that clarified the deduction loss only applied to units exceeding the prescribed area. The judgment underscored the importance of adhering to statutory conditions and relying on judicial precedents in interpreting tax provisions. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293673