A construction company taken building plan approval for 100 houses from local authority i.e. GRAM PANCHAYAT before 31/03/2007 and started construction accordingly.
Now in JUNE 2008, company feels that it will be easy and beneficial if plan is being approved by Directorate of Township Development and planing Authority. if she takes plan approval of DTDPA she has to sacrifice 10% area of total land for parks,road etc which results that total no of houses will be reduced to 90.
now my queries are
if only gram panchayat approval is considered for 80 IB due to it was taken before 31/03/2007 and construction is for 90 houses instead of 100 houses will it amount to completion of project according to approved plan?can exemption u/s 80 IB be fully availed?
can second approval be treated as continuation of first approval where both the senctioning authority are diffrent?
CAclubindia
