HC allows Pro-Rata section 80IB(10) Deduction on eligible residential units

PCIT Vs Kumar Builders Consortium (Bombay High Court)

Revenue argued that Section 80IB(10), does not at all envisage a pro rata deduction, in respect of eligible fats. In other words, it is suggested that even if a single flat in a housing project is found to exceed the permissible maximum built-up area of 1500 sq.ft., the assessee would lose its right to claim the benefit of deduction in respect of the entire housing project under Section 80IB(10).

In our opinion, a plain reading of the s

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