Deduction u/s 80IB(10) is available to joint venture/ firm and not to partner

Sai Teja Constructions Vs DCIT (ITAT Hyderabad) ITAT Hyderabad held that deduction u/s. 80IB(10) of the Income Tax Act is applicable to an undertaking developing and building housing projects. The same is not applicable to a partner in a joint venture/partnership firm. Facts- The assessee is a partnership firm engaged in the business of investment and construction of residential flats. It filed its return of income for A.Y. 2008-09 belatedly declaring total income of Rs. Nil. The assessee firm is a partner of M/s. SMR SAI TEJA ESTATES which is in the business of construction of residential fla...