Sec. 80-IB(10) applicable not for merely building housing project but also for developing & building housing project

S. 80-IB(10) deduction available to taxpayer who is not merely a land owner but carries on activities along with promoter for developing & building approved housing project CIT  v. Shravanee Constructions (Karnataka High Court) Section 80-IB(10) of the Act is applicable not for merely building housing project but for developing and building housing project.  In terms of the agreement, the taxpayer not only undertook the development activities on the land in question, but in fact the taxpayer entered into an agreement of sale with the owners of the land, paid the entire consideration...