Dismissing the appeal of the revenue the Court held that ; Once local authorities approve a project as housing project along with commercial user to extent permitted under DC Rules/Regulations framed by respective local authorities, it has to be treated as housing project and eligible deduction. Followed CIT v. Veena Developers ( 2016) 66 taxmann.com 353 (SC), CIT v. Brahma Associates (2011) 333 ITR 289 ( Bom) (HC) (AY. 2006-07)
CIT v. Makwana Brothers & Co (HWP) ( 2017) 88 taxmann.com 278 ( Bom) (HC) Editorial: SLP of revenue is dismissed ; CIT v. Suyog Shivalaya (2018) 257 Taxman 334 (SC)
S. 80IB(10 :Housing projects- Local authorities could approve a housing project along with commercial user to extend permitted under DC Rules /Regulations framed by respective local authority -When local authorities approve the project as housing project – Deduction cannot be denied