Deduction u/s 80IB(10) available to partly owned individuals

Ashok G Patel Vs DCIT (ITAT Surat) Form no. 10CCB clearly states that the undertaking is partly owned. Sale proceeds are also deposited equally in individual account. Deduction u/s 80IB(10) allowed Facts- The assessee undertook a development of housing project and claimed deduction u/s. 80IB(10). The assessee developed housing project in the name of “Hampton Park” alongwith his mother. The assessee and his mother were having 50% shareholding in housing project. The assessee in his computation of income claimed deduction u/s. 80IB(10) of Rs.59,80,995/-. During the assessment, Assessing Offi...