2012 (11) TMI 1121

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....n: "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 exceeing 1500 sq.ft. with regard to claim for deduction u/s.80IB of the Act?" 3. As regards assessee's appeal viz., T.C.(A).No. 318 of 2012....

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....the case, the Tribunal was right in that the assessee is entitled for the deduction under Section 80IB(10) for the housing project with respect to residential flats with built up area not exceeding 1500 sq.ft. even though in the same housing project, the assesseee had constructed flats exceeding built up area of 1500 sq.ft.? 4.  Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the provisions of Section 80IB(10) provide for partial deduction to the housing project with respect to residential flats with built up area of less than 1500 sq.ft. where the same project contains flats with built up area exceeding 1500 sq.ft.?" 5.  It is seen from the facts narrated herein that the assess....