Proportionate Section 80IB(10) deduction allowable if Built-up area of some units exceeds1,500 sq.ft.

ACIT Vs Eagleton Property Holdings (ITAT Bangalore)

Whether the deduction under section 80IB(10) can be allowed on proportionate basis in respect of residential units having a built up area of 1500 sq.ft. or less. On this aspect, the CIT(A) held that the assessee would be entitled to deduction under section 80IB(10) of the Act on a proportionate basis in respect of housing units which are 1500 sq.ft. or less in built up area. Incidentally, the CIT(A) also held that in respect of an independent residential units, assessee wou

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