https://www.taxtmi.com/caselaws?id=409270 The High Court clarified that eligibility for deductions under Section 80IB(10) is project-oriented, not individual-oriented, emphasizing the nature of development and construction activities for claiming the deduction. Ownership criteria were not deemed mandatory for claiming the deduction. The Court highlighted the importance of project development over individual ownership, ruling in favor of the assessee and dismissing the Revenue's appeals. This decision aimed to promote housing projects and encourage development activities, aligning with established legal principles and precedents. en-us Wed, 17 Mar 2021 00:00:00 +0530 Fri, 02 Jul 2021 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409270 The High Court clarified that eligibility for deductions under Section 80IB(10) is project-oriented, not individual-oriented, emphasizing the nature of development and construction activities for claiming the deduction. Ownership criteria were not deemed mandatory for claiming the deduction. The Court highlighted the importance of project development over individual ownership, ruling in favor of the assessee and dismissing the Revenue's appeals. This decision aimed to promote housing projects and encourage development activities, aligning with established legal principles and precedents. Case-Laws Income Tax Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409270