PCIT v. Vardhan Builders [2023] 291 Taxman 450 (Bom)(HC)

S. 80IB (10) : Housing projects-Built up area of less than 1000 square feet–Completion certificate was issued by the Competent Authority -Denial of exemption was not valid.

As per the approved plan of the Municipal Authority, all flats of the building were having built up area of less than 1000 square feet, moreover a completion certificate was issued by the competent authority, which could be issued only if construction was in accordance with sanctioned plans. Hence the benefit of deduction could not be denied. (AY. 2009 -10)