https://www.taxtmi.com/caselaws?id=756014 The Bombay HC ruled in favor of the assessee regarding deduction under Section 80IB(10) for housing projects. The court held that for projects approved before April 1, 2005, the built-up area definition introduced from April 1, 2005 cannot be applied retrospectively. Following SC precedent in Sarkar Builders, the court determined that assessees could legitimately claim deductions based on plans approved by Planning Authority prior to the statutory amendment. The DVO's report showing violations regarding row houses exceeding 1500 sq.ft. was not considered decisive for pre-2005 approved projects. en-us Wed, 10 Jul 2024 00:00:00 +0530 Wed, 24 Jul 2024 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756014 The Bombay HC ruled in favor of the assessee regarding deduction under Section 80IB(10) for housing projects. The court held that for projects approved before April 1, 2005, the built-up area definition introduced from April 1, 2005 cannot be applied retrospectively. Following SC precedent in Sarkar Builders, the court determined that assessees could legitimately claim deductions based on plans approved by Planning Authority prior to the statutory amendment. The DVO's report showing violations regarding row houses exceeding 1500 sq.ft. was not considered decisive for pre-2005 approved projects. Case-Laws Income Tax Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756014