Section 80-IB(10) deduction was allowable for timely completed wings and held remaining wing to be separate project

Aakash Nidhi Builders & Developers Vs ITO (ITAT Mumbai) Conclusion: Deduction under section 80-IB(10) was allowable for profits derived from Wings A to F of a housing project completed within the prescribed time limit and held that the additional Wing-G, which was completed later, constituted a separate project and was not eligible for deduction under the same section. Held: Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claimed deduction under section 80-IB(10) amounting to Rs. 2,51,07,390 on the entire profit of...