Projected terrace area i.e. open to sky is not to be included in calculation of 'built-up area' for Sec. 80IB(10)(c)

The first and foremost issue to be decided is as to whether the area of projected terrace (open to sky) is liable to be included within the meaning of expression “built-up area” contained in clause (c) of section 80IB(10) of the Act.

On this aspect, the stand of the assessee is that the word “terrace” is not includible in the meaning of expression “built-up area” even if one has to go by the definition of the built-up area prescribed in section 80IB(14)(a) of the Act. The learned counsel referred to the decision of

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