Open Terrace/Portico Excluded in Built-Up Area for Sec. 80-IB Deduction Eligibility

Modi Builders & Realtors (P) Ltd. and Others. Vs ACIT (Telangana High Court) Open Terrace/Portico should be excluded for computation of Built-Up Area to determine eligibility for Sec. 80-IB deduction Conclusion: Since it was an open space which could not be brought within the purview of inner measurement of the residential unit, the said two areas i.e. the open terrace and the portico had to be excluded from computation of the built-up area entitling assessee the benefit that which was enshrined under Section 80-IB. Held: Assessee – real estate developer was engaged in the business o...