The ITAT Cochin determined that land integral to an approved housing project must meet the one-acre requirement for Section 80-IB(10) deductions, ruling that unrelated land cannot be counted.
ITAT Cochin Denies Section 80-IB Deduction for Under One Acre Housing Project
The ITAT Cochin has ruled that eligibility for a deduction under Section 80-IB(10) necessitates that the approved housing project itself meets the minimum land requirement of one acre. The Tribunal clarified that unrelated land or structures cannot be accounted for in determining eligibility for tax incentives.
This decision emphasizes the statutory requirement and reinforces the parameters within which a developer can capitalize on housing project deductions, pushing for strict compliance with the minimum acreage stipulation.
The implications are significant for real estate developers and tax practitioners, alerting them to carefully assess land holdings to ensure compliance before claiming related tax deductions.
Citations
- Case Name (2026) ITAT Cochin
