Deduction U/s. 80-IB(10) allowable to both owner & land developer

ITO Vs Ms. Skyline Developers (ITAT Pune) Conclusion: Assessee who had contributed land and  engaged in the development of housing project with developer for development of the land was eligible for claiming deduction under section 80-IB(10) as both owner as well as developer were eligible for deduction under section 80-IB(10). Held: Assessee was a builder and developer. It entered into joint venture agreement with B Builders for developing the land held by assessee. Assessee received his share of profit from the joint venture and claimed deduction of the entire income u/s. 80IB(10). AO decli...