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2016 (4) TMI 872 - ITAT PUNEClaim of deduction under section 80IB(10) - connotation of meaning of one acre i.e. the size of plot of land on which the housing project has to be developed in order to avail the deduction under section 80IB(10) of the Act - Held that:- Where 1 acre is equal to 4840 sq. yds. and one sq.yd. is equal to 0.83612736 sq. mtrs., so, one acre is equal to 4046.8564224 square meters. In the entirety of the above said facts and circumstances and information available in public domain and the unit measurement prevalent in the State of Maharashtra i.e. Guntas, we hold that the unit measurement of one acre is equal to 4046.8726 sq. mtrs. Even the information on Wikipedia in Marathi shows one acre is equal to 4046.8726 sq. mtrs. In the totality of the above said facts and circumstances, we find no merit in the claim of assessee in this regard that one acre is equal to 4000 sq. mtrs. Coming to the claim of the assessee that PCNTDA in the layout plan has mentioned 2500 + 1500 P.C and in Devnagari one acre is also written. In other words, the area of 4000 sq. mtrs. is equivalent to one acre. In the first instance, PCNTDA has communicated that it had leased out 4000 sq. mtrs. of land to the Lessee of plot which was developed by the assessee. The layout plan which is annexed to the Lease Deed, perusal of the same reflects the plots were demarcated into bulk lands of various measurements and one portion of the land in the middle of the layout plan is allocated to the Lessee Mr. Patil. On one side of the said plot was written as 2500 + 1500 P.C. i.e. 4000 sq. mtrs. + a road has been demarcated next to it, which is 172 roads 40s, etc. The assessee before us has pointed out that only portion of the land measuring 4000 sq. mtrs. was allotted and the roads were developed by PCNTDA itself. Even the garden was developed by PCNTDA itself. Accordingly, we hold that where the land allocated to Mr. Patel was only 4000 sq. mtrs. and the balance land had been marked for the development of side road out of original demarcation for one acre, but after allocation of 4000 sq. mtrs. and demarcation of land for roads, total plot was not one acre. Where the unit measurement for land is to be recognized as square meter and the assessee has developed its housing project on a plot of land measuring 4000 sq. mtrs., we find no merit in the claim of the assessee that it had fulfilled the conditions laid down in section 80IB(10) of the Act. Since the requirement of the Act is minimum area of one acre, which is equivalent to 4046.8726 sq. mtrs., the conditions laid down in section 80IB(10) of the Act are not fulfilled in the case of assessee and hence, it is not entitled to the said claim. Thus Claim of the assessee with regard to the area of row house No.1. having not been fulfilled the first condition of minimum area of land not entitled to the claim of deduction under section 80IB(10) - Decided against assessee
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