Open terrace area not part of built-up area for section 80IB(10) deduction

CIT Vs S. Muthu Palaniappa (Madras High Court)

Facts- Revenue preferred an appeal against ITAT order which hold that open terrace area which can be accessed only through the private balcony of the individual purchaser should not be included while computing the built-up area for the purpose of claiming deduction u/s 80IB(10).

Conclusion- The assessee’s appeal viz. T.C.A. No. 318 of 2012, stands allowed holding that open terrace area cannot form part of built up area and the asses

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