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2016 (11) TMI 365 - ITAT MUMBAIEligibility of claim u/s 080IB - date of completion of the construction of the housing project - Held that:- no functional relationship or dependence between the buildings completed and that not completed (by the specified date – 31.3.2008), which are thus independent of each other. This is as the Revenue’s only objection is that one of the eight buildings comprising the assessee’s otherwise eligible housing project u/s. 80-IB(10), i.e., ‘Krishna Complex’, is not complete by that date; the assessee holding completion certificates (by that date) for the other seven buildings of the project. We, accordingly, see no reason as to why deduction u/s.80-IB(10) cannot be allowed on the part that is completed by 31.3.2008. In our view, therefore, the assessee would be entitled to deduction u/s.80-IB(10) on the building/s comprising the housing project for which it stands issued a completion certificate by 31/3/2008. - Decided in favour of assessee
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