S. 80IB(10) Restriction on extent of commercial area not applies to projects approved before 1.4.2005

CIT vs. Sarkar Builders (Supreme Court of India)- Restriction on extent of commercial area in ‘housing project’ imposed w.e.f. 1.4.2005 does not apply to housing projects approved before 1.4.2005 even though completed after 1.4.2005 – Section 80-IB(10). Brief Facts of the Case and Question of Law Brief Facts: There are various respondents/assessees involved in the assessment. Also the Assessment years are different but the question of law raised by Income Tax Authorities is same. The assessees are engaged in the business of developing and building housing projects. In the said ho...