Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 893 - CALCUTTA HIGH COURTAllowability of deduction u/s 80IB(10) of the Act – Building not constructed as per plan sanctioned - Whether the Tribunal is justified in law in allowing the claim for deduction u/s 801B(10) of the Act – Held that:- Tribunal was of the view that as the provisions of Section 80IB(10), there is no bar for development to developing Housing Project on approved site - the approved site may be in the name of different persons who has sold this approved project to another developer and who within the time-limit prescribed u/s. 80IB(10) of the Act has completed the project - the Tribunal confirmed that the claim of assessee - a buyer in law is a representative of the seller - the sanctioned plan obtained by the seller naturally ensures to the benefit of his representative - thus, the order of the Tribunal is upheld – Decided against Revenue.
|