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| The Tax Publishers2020 TaxPub(DT) 4187 (Mum-Trib) INCOME TAX ACT, 1961
Section 80-IB(10)
In respect of denial of benefit of deduction under section 80-IB(10) on account of area and ownership violation, there was no area violation as the report of DVO supports the assessee and in respect of ownership violation AO was directed to examine the date of approval of the project in question as per the set principles of natural justice.
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Deduction under section 80-IB(10) - Income from developing and housing project - Whether area and ownership violation -
Assessee was denied benefit of deduction under section 80-IB(10) on the ground of area and ownership violation. Held: There was no area violation and the report of the DVO supports to the assessee. Regarding ownership related violation, there are decisions to support the legal proposition that the provisions of said clause (f) are prospective qua the date of approval of the Housing Project. After hearing the parties, on perusal of the orders of the Revenue Authorities and the paper books filed along with the written submissions, it was appropriate that AO should be directed to examine the date of approval of the project in question as per the set principles of natural justice.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 2013-14
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