S. 80IB(10) -Canopy/ Porch cannot be treated as part of Built up Area as it is not habitable

Brief Facts and Question of Law: Brief Facts of the Assessee: The Assessee is engaged in the business of construction and had undertaken a residential cum commercial project in Nanded. In assessment year 2008-09, the assessee had claimed deduction under section 80IB(10) of the Act at Rs.45,40,947/-. The Assessing officer (herewith “AO”) rejected the Assessee’s claim of deduction on the ground that the project included residential as well as commercial units. Also the project was not completed within the time limit specified in the provisions of section 80IB(10) of the Act. The area of so...