https://www.taxtmi.com/caselaws?id=762165 ITAT Indore allowed assessee's appeals for statistical purposes regarding Section 80IB deduction denial. The tribunal held that retrospective application of Finance Act 2004 amendment restricting commercial space in residential projects cannot apply to pre-2005 approved projects where construction had advanced per approved plans. However, project completion deadline conditions were deemed reasonable as adequate time was provided. The matter was remanded to AO for fresh adjudication regarding completion certificate requirements pending SC decision in Global Estate case, and for verification of commercial area compliance with local authority approved plans per Sarkar Builders SC judgment. en-us Fri, 27 Sep 2024 00:00:00 +0530 Mon, 25 Nov 2024 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762165 ITAT Indore allowed assessee's appeals for statistical purposes regarding Section 80IB deduction denial. The tribunal held that retrospective application of Finance Act 2004 amendment restricting commercial space in residential projects cannot apply to pre-2005 approved projects where construction had advanced per approved plans. However, project completion deadline conditions were deemed reasonable as adequate time was provided. The matter was remanded to AO for fresh adjudication regarding completion certificate requirements pending SC decision in Global Estate case, and for verification of commercial area compliance with local authority approved plans per Sarkar Builders SC judgment. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762165