For claiming Sec 80IB(10) benefits registered deed is not necessary

ACIT Vs M/s Yug Corporation (ITAT Ahemdabad)- The assessee (developer), having dominant control and rights over the land for developing and building a housing project, as approved by a local authority, cannot be denied the deduction under s 80-IB(10) merely because of the absence of legal ownership of the land. The learned Counsel for the assessee referred to the terms of the development agreements and the agreement to sell (copies filed on record) with both the societies, according to which the responsibilities of the assessee have been analysed in such manner that planning, sanction of plan...