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 receive

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