2018 (7) TMI 1458 - SCH - Income Tax

Deduction under section 80IB - A, B, C, D and E buildings are constructed on a plot admeasuring 2.36 acres and if 2.36 acres of land is proportionately divided between five buildings, the land pertaining to the E building would be less than one acre and, hence, deduction under section 80IB( 10) cannot be allowed - Does the respondent assessee satisfy the condition (b) of Section 80IB(10) of the Act which requires the project claiming the deduction to be on size of a plot of land which has a minimum area of one acre? - Held that - SLP dismissed.

Summary

The Supreme Court of India dismissed the Special Leave Petition, condoned the delay, and disposed of any pending applications. The Respondent did not appear.