Dismissing the appeal the Court held that the housing project of the assessee was approved in respect of an area of 48,939 square feet, which was more than one acre. Therefore, the assessee had complied with the requirement contained in clause (b) of section 80-IB(10). In respect of each block, the assessee had taken separate approval. The Tribunal, inter alia, held that a individual residential block had to be considered as separate project and the commercial space which was a separate part of the project should not be considered. It further held that similar view was taken by the Tribunal in the case of the assessee for the assessment year 2004-05, which had been upheld by the High Court. The principles of consistency had to be followed. (AY.2007-08)