ITAT grants Deduction u/s 80IB(10) for Following Consideration Failure for Permissions and Timely Completion of Separate Housing Project [Read Order]

ITAT grants Deduction - Completion - Separate Housing Project - Housing Project- taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal held that Assessee cannot be denied claim of exemption under Section 80IB(10) for he obtained each block and usage permission from local authority within 5 years. The assessee developed 11 Blocks of residential housing projects under the scheme of Takshashila Colonial starting with Block Nos. C…

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