2012 (12) TMI 69

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....mission, following substantial questions of law were admitted by this Court for consideration:     "1.Whether on the facts and circumstances of the case, the tribunal was right in deciding the eligibility of deduction without considering the mandatory conditions stipulated u/s.80IB and 80IB(10) of the I.T.Act? 2.Whether on the facts and circumstances of the case, the Tribunal was right in not giving any finding about the difference between developers, builders and construction contracts to claim deduction u/s.80IB(10) of the Act?     3.Whether on the facts and circumstances of the case, the Tribunal was right in deciding that there need not be any cap of 10% for flats having built up area exceeding 1500 s....

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....nefit u/s 80IB?3. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that assessee need not own the land and then develop cum build the housing project of the purpose of claiming deduction under section 80IB(10)? 4. Whether on the facts and in the circumstances of the case, the Tribunal was right in remanding the case for reverification and remeasuring the built up area residential / commercial flats measuring more than 1500 sq.ft. / 2000 sq.ft. and directing the assessing officer to pass orders again when the assessing officer and the CIT(A) had rightly arrived at the conclusion that the flats were in excess of 1500 sq.ft./2000 sq.ft. after considering the dimensions of measurement and consequently....