Pre A.Y 05-06 approved housing project eligible for deduction u/s 80-IB(10) irrespective of commercial use extent

As the legislature has provided that the deduction is available to all housing projects approved by a local authority, the result is that even projects with commercial user approved as a “housing project” are eligible for deduction. Revenue was not justified in confining the deduction only to projects having commercial area up to 10% of the BUA because once the basic argument of the revenue that the housing projects with commercial user are not entitled to Section 80IB(10) deduction is rejected, no restriction could be imposed. If the project is approved as a “housing project” deductio...