HC to decide on allowability of 'pro-rata' deduction u/s. 80IB(10) for housing projects

Aug 29,2019

Bombay HC admits Revenue's appeal challenging ITAT ruling allowing proportionate deduction u/s. 80IB(10) on housing project, despite some of the flats violated the 'area' condition; HC to examine - "Whether ....the Tribunal was justified in allowing the proportionate deduction u/s. 80IB(10) in absence of any provision for pro-rata deduction in the statute and although some of the flats violated the condition of not exceeding area of 1000 sq.ft and thus vitiating t...

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