Deduction U/s. 80-IB(10) need to be given proportionally if a few residential units are exceeding the built-up area of 1500 sq. ft prescribed by section

RELEVANT PARAGRAPH

6.5 In the case of Bengal Ambuja Housing Development Ltd. (supra), the ITAT, Kolkata Bench held as under:

“It is apparent from the perusal of section 80IB(10) that this section has been enacted with a view to provide incentive for businessmen to undertake construction of residential accommodation for smaller residential units and the deduction is intended to be restricted to the profit derived from the

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