Entire deduction u/s 80IB(10) cannot be denied merely on the counts that some of the units were not fully constructed before the prescribed date and that multiple approvals were obtained w.r.t different units:

AO denied deduction u/s 80IB(10) on the counts that the entire housing project was not completed within the prescribed time limit and there were multiple approvals w.r.t. different units. On appeal, CIT(A) allowed deduction u/s 80IB(10) w.r.t. those units of the said project which were approved and constructed prior to 31/03/08. The said order was confirmed by ITAT. On Revenue’s appeal, Hon’ble High Court observed that the said project was duly approved before the cut-off date being 01/04/04. It was w.r.t. 119 units and construction of most of units was completed before the prescribed dated i.e. 31/03/08. Assessee had fulfilled the conditions w.r.t. size of plot and built up area per unit. AO had not pointed out any condition prescribed u/s 80IB(10) which had been violated by the assessee. It was thus held merely because multiple approvals have been obtained, deduction u/s 80IB(10) cannot be denied. It was also held that though the entire project has not been completed before the prescribed date, deduction u/s 80IB(10) must be granted w.r.t. units which have been completed before the prescribed date. Revenue’s appeal was dismissed accordingly.

[CIT vs. B M And Brothers – Tax Appeal No.796 of 2013]