s. 80IB(10) not require to begin construction work after obtaining approval from local authorities

DCIT Vs. Akshay Eminence Developers Pvt. Ltd. (ITAT Bangalore) – The provisions of s. 80IB(10) of the Act have not subscribed that the assessee was required to begin the construction work after obtaining the approval from the local authorities and that before getting such approval if the assessee begins the construction work, such construction was not recognized. What really matter here is the date of approval of the plan, but, not the date on which it was communicated?

IN THE INCOME TAX APPELLATE TRIBUNAL

“A” BENCH : BANGALORE

ITA Nos. 387, 388 & 822/Bang/2010

Assessment years : 2005-06 to 2007-08

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