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TMI Blog2008 (10) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner (Appeals)-I, Madurai and relates to the assessment year 2004-05. The solitary issue raised in this appeal relates to the allowability of deduction of Rs. 4,48,98,542 under section 80-IB(10) of the Income-tax Act, 1961 (hereinafter called the Act). We have heard the rival submissions in the light of the material placed before us and the precedents relied upon. During the relevant ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the benefit of section 80IB(10) cannot be given. The Commissioner (Appeals) allowed the deduction under section 80-IB(10) in respect of the residential units with an area of less than 1500 sq. ft. Adverting to the mandate of the statute we find that section 80-IA of the Act was restructured into two new distinct sections, namely, 80-IA and 80IB. The amended provisions extended the benefits to ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 80-IB it has become a condition precedent that housing projects in places other than Delhi and Mumbai should not exceed the built-up area of 1500 sq. ft. It was argued on behalf of the assessee that each block of residential units covered by a plan has to be considered as a separate project and deduction is to be allowed on that basis. For enabling the benefit of section 80-IB it is necessary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... employed in a statute is the determinative factor of the legislative intent. The first and primary rule of construction is that the intention of the legislation must be found in the words used by the Legislature itself. The same view is expressed in the case of Britannia Industries Ltd. v. CIT [2005] 278 ITR 546 (SC). In this case the hon'ble apex court has held that when the language of a statute ..... X X X X Extracts X X X X X X X X Extracts X X X X
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