https://www.taxtmi.com/caselaws?id=404505 Application of the deduction under section 80IB(10) was treated as project-level entitlement rather than unit-specific, with combined flats exceeding the prescribed area qualifying when aggregated; this outcome follows prior judicial precedents and was decided for the assessee. Failure to claim the deduction in the original return did not defeat the claim in view of precedent authorities permitting such relief, and the issue was resolved for the assessee. For computation of project income, the percentage of completion/project computation method was applied to the developers project, with the construction contracts accounting standard held inapplicable to builders/developers and accounting method choice deemed revenue neutral. en-us Mon, 08 Feb 2021 00:00:00 +0530 Wed, 14 Jan 2026 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404505 Application of the deduction under section 80IB(10) was treated as project-level entitlement rather than unit-specific, with combined flats exceeding the prescribed area qualifying when aggregated; this outcome follows prior judicial precedents and was decided for the assessee. Failure to claim the deduction in the original return did not defeat the claim in view of precedent authorities permitting such relief, and the issue was resolved for the assessee. For computation of project income, the percentage of completion/project computation method was applied to the developers project, with the construction contracts accounting standard held inapplicable to builders/developers and accounting method choice deemed revenue neutral. Case-Laws Income Tax Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404505