Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (10) TMI 1216 - HC - Income TaxDeduction u/s 80IB(10) - Meaning and scope of the term "Housing Project" - The assessee company purchased three residential flats and converted them into commercial establishments. AO viewed that the provisions u/s 80IB(10) not having been satisfied on the ground that housing projects don't include commercial buildings, assessee not entitled to the deduction. It was contended that Housing project would include commercial buildings also as per the s. 80HHBA. - HELD THAT:- In the absence of definition of the expression 'housing project' anywhere else in the Act and the said expression being defined in a related deduction provision under the same Chapter VIA, we feel, it would be more appropriate to go by the definition of the expression 'housing project', as available under Section 80HHBA for the purpose of understanding the said expression of 'housing project' under Section 80IB of the Act. Project is not, pure and simple, a residential one. After reading s. 80HHBA and 80IA, it is clear that s. 80IB is concerned about housing project namely, construction of any building other than what is contemplated as an infrastructure facility u/s 80IA. In s. 80HHBA, the expression "housing project" is defined in a wider sense but there is no such decision that allow the interpretation of housing project in wider sense u/s 80IB(10) thereby restricting the scope of Housing project. Decision in the case of CCE VERSUS M/S HARI CHAND SHRI GOPAL [2010 (11) TMI 13 - SUPREME COURT] was relied upon. Revenue appeal dismissed. Seeking fresh claim / relief in the Revenue Appeal whereas no appeal was filed by the assessee against the decision of ITAT - Issue of chargeability of tax versus issue of grant of relief / deduction - HELD THAT:- The reliance of assessee in the case of Essar Shipping Ltd.'s case [2013 (12) TMI 443 - MADRAS HIGH COURT] is not valid. - The situation herein is a totally different one. The question is one of deduction and not of chargeability under the provisions of the Act. In the circumstances, we reject the assessee's case in this regard. The decision in the case of Essar Shipping Ltd.'s case [2013 (12) TMI 443 - MADRAS HIGH COURT] distinguished.
|