Vipul - Section 80IB(10) housing
Facts
Section 80IB(10) deduction for housing-project profits.
Issue
"Built-up area" computation and project size limits.
Held
Built-up area includes balconies but excludes common areas in proportion. Marginal exceedances are not fatal where substantial compliance exists.
Ratio
Beneficial provisions are read liberally to fulfil legislative intent.
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