https://www.taxtmi.com/caselaws?id=412851 The ITAT upheld the CIT(A) decision to allow a proportionate deduction under section 80IB(10) for a construction firm's housing project, "Girdhari Hari Executive Park," for the assessment year 2011-12. The deduction was permitted on all flats except those exceeding 1500 sq.ft., following case laws supporting pro-rata deduction for eligible units within the project. Both the assessee and revenue's appeals were dismissed by the ITAT, affirming the eligibility criteria and proportionate deduction decision. The ITAT acknowledged delays in the appeal process due to the COVID lockdown, with exceptions made as per recent court directives. en-us Fri, 17 Sep 2021 00:00:00 +0530 Wed, 29 Sep 2021 11:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412851 The ITAT upheld the CIT(A) decision to allow a proportionate deduction under section 80IB(10) for a construction firm's housing project, "Girdhari Hari Executive Park," for the assessment year 2011-12. The deduction was permitted on all flats except those exceeding 1500 sq.ft., following case laws supporting pro-rata deduction for eligible units within the project. Both the assessee and revenue's appeals were dismissed by the ITAT, affirming the eligibility criteria and proportionate deduction decision. The ITAT acknowledged delays in the appeal process due to the COVID lockdown, with exceptions made as per recent court directives. Case-Laws Income Tax Fri, 17 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412851