https://www.taxtmi.com/caselaws?id=414753 The Karnataka High Court upheld the Tribunal's decision in an appeal under Section 260-A of the Income Tax Act, 1961, regarding deduction under Section 80IB(10) for housing projects on land exceeding one acre. The Court ruled that as long as projects are approved on a plot of land over one acre, the deduction is valid, rejecting the Revenue's argument for strict compliance with the land size condition. The judgment emphasized that the provision should not be narrowly interpreted, allowing for deductions for eligible projects even if multiple developments are on the same large plot. en-us Mon, 04 Oct 2021 00:00:00 +0530 Mon, 15 Nov 2021 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414753 The Karnataka High Court upheld the Tribunal's decision in an appeal under Section 260-A of the Income Tax Act, 1961, regarding deduction under Section 80IB(10) for housing projects on land exceeding one acre. The Court ruled that as long as projects are approved on a plot of land over one acre, the deduction is valid, rejecting the Revenue's argument for strict compliance with the land size condition. The judgment emphasized that the provision should not be narrowly interpreted, allowing for deductions for eligible projects even if multiple developments are on the same large plot. Case-Laws Income Tax Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414753