On appeal by the Department, the Tribunal relying on the decision of the Hon’ble Gujarat High Court in the case of CIT v. Radha Developers ( 2012) 341 ITR 403 ( Guj) (HC) held that ownership of land was not a prerequisite for claiming deduction u/s. 80IB of the Act and therefore, deduction was allowable. (AY 2007-08, 2010-11)
DCIT v. AG8 Ventures Ltd (2019) 69 ITR 35 (SN) (Indore)(Trib.)
S. 80IB : Industrial undertakings-Ownership of property is not a condition for claiming deduction.