Section 80-IB – Ceiling on commercial area not applies to projects approved before 01.4.05

Sec. 80-IB deduction can’t be taken away because of conditions levied subsequent to approval of projects Section 80-IB(10) as amended by inserting clause (d) with effect from April 1, 2005 should be applied retrospectively is also without any merit, because, firstly, clause (d) is specifically inserted with effect from April 1, 2005 and, therefore, that clause (d) seeks to deny section 80-IB(10) deduction to projects having commercial user beyond the limit prescribed under clause (d), even though such commercial user is approved by the local authority. Therefore, the restriction imposed unde...