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2014 (7) TMI 1166 - ITAT PUNEEntitlement to claim deduction u/s 80IB(10) - Held that:- Regarding the objection of the Assessing Officer in the website of assessee company, the assessee itself has shown shops available in DSK Sundarban project. The issue is not relevant to decide whether the residential and amenity space are separate projects or one and the same. So long as the building plans are independently sanctioned, two projects are separately and accordingly, disallowance was not rightly rejected on this account. Accordingly, the Assessing Officer was not justified in rejecting claim of the assessee under the provisions of section 80IB(10) of the Act in respect of DSK Sundarban. The Assessing Officer is directed accordingly. In the absence of any definition of housing project, the Assessing Officer and the CIT(A) were not justified in holding that all the buildings sanctioned in the revised plan dated 15.10.2008 constitute the housing project as discussed above. In view of above discussion, the choice is for the assessee to determine which buildings would form part of the housing project and the conditions laid down in Section 80IB(10) of the Act should be checked vis-a-vis those buildings with respect to which the deduction is claimed. Since the assessee has completed all the buildings for which sanction is received for parking + 7 floors and all the conditions laid down in Section 80IB(10) of the Act were complied with, the assessee is entitled for claiming deduction u/s.80IB(10) of the Act. It is settled legal position that beneficial provisions have to be interpreted liberally in favour of assessee. Regarding the contention of the Assessing Officer that the built up area of the row houses exceeded 1500 sq. ft. is not relevant since the row houses do not form part of the eligible housing project. In view of above discussion, the Assessing Officer is directed to allow the assessee’s claim of deduction u/s.80IB(10) of the Act in respect of Parking + 7 floors of DSK Vishwa Phase-V, Meghmalhar Phase-I project as independent project. - Decided in favour of assessee.
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