The High Court held, dismissing the Department’s appeal, that the Department had failed to establish the fact that the residential units in respect of which the benefit of 100 per cent. deduction under section 80-IB of the Income-tax Act, 1961 was claimed were of area of more than 1,000 sq. ft., that the assessee was entitled to the deduction under section 80-IB(10) . SLP of Revenue is dismissed .(AY.2009-10)
PCIT v. Vardhan Builders (2023) 256 taxmann.com. 364 / (2024)462 ITR 454 (SC) Editorial : PCIT v. Vardhan Builders (2022) 291 Taxman 450 / (2023) 456 ITR 310 ( Bom)(HC)
S. 80IB(10) : Housing projects- Area off residential units should not exceed specified limit — Entitled to deduction — SLP of Revenue is dismissed .[ Art. 136 ]