ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds 1000 sq.fts Excluding Balcony Open to Sky [Read Order]

The balconies open to the sky are to be excluded from the calculation of the built-up area of a particular residential unit and accordingly qualify for deduction under Section 80IB (10) of the Income Tax Act, 1961
By Aiswarya Krishnadas - On June 15, 2024 12:13 pm - 2 mins read
ITAT - Income Tax - Income Tax Act - Income Tax Appellate Tribunal - Section 80IB(10) of the Income Tax Act - ITAT Allows - taxscan

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT )  allowed a claim for deduction under Section 80IB(10) of the Income Tax Act, 1961  in respect of flats whose area exceeds 1000 square feet, excluding balconies that are open to the sky. Disallowance of deduction under Section 80IB(10) of the Income Tax Act…

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