Dismissing the appeal of the revenue the Court held that the Tribunal is justified in holding that the assessee has undertaken development and construction of housing project on a piece of land which was different from land on which erstwhile promoters had completed construction of houses hence entitle to deduction. (AY. 2010-11)
PCIT v. Yash Associates (2020) 115 taxmann.com 425 /423 ITR 215(Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Yash Associates ( 2019 ) 417 ITR 60 ( St) / (2020) 274 Taxman 103 (SC)
S. 80IB(10) : Housing projects-Undertaken development and construction of housing project on a piece of land which was different from land on which erstwhile promoters had completed construction of houses-Entitle to deduction.