TMI Blog2016 (12) TMI 501X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 80IB [10] of the Act with respect to such units/housing project and the same has been rightly confirmed by the learned Tribunal. - Decided in favour of assessee - TAX APPEAL No. 820 of 2016 - - - Dated:- 6-12-2016 - MR. M.R. SHAH AND MR. B.N. KARIA, JJ. FOR THE APPELLANT : Mr SUDHIR M MEHTA, Advocate ORAL ORDER (PER : HONOURABLE Mr. JUSTICE M.R. SHAH) 1. Feeling aggrieved and dissatisfied with the Order dated 2nd February 2016 passed by the Income-Tax Appellate Tribunal, Ahmedabad [hereinafter referred to as, the Tribunal ] in ITA No. 2906/Ahd/2014 for Assessment Year 2012-2013, the Revenue has preferred the present Tax Appeal with the following proposed questions of law : [A] Whether the ITAT was correct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion [ BU Permission for brevity] was granted by the Municipal Corporation with respect to Towers A , B F on 2nd April 2012 ie ., after the relevant date viz ., 31st March 2012, and therefore, the conditions stipulated under Section 80IB [10] of the Act are not satisfied, as it cannot be said that the project has been completed on or before 31st March 2012. The Assessing Officer also did not allow deduction under Section 80IB [10] of the Act on the ground the some of the Units/Flats were sold/allotted to the family members who are having other units/house elsewhere. 3. Feeling aggrieved and dissatisfied with the order of the Assessing Officer, disallowing the claim under Section 80IB [10] of the Act of ₹ 34,92,68,458/=, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ject viz ., Palm Avenue. From the record, it emerges that with respect to Towers C , D E , B.U permission was granted by the local authority on 31st December 2011. Now with respect to remaining towers ie. , Tower A , B F , though the Building Use permission was applied prior to 31st March 2012, the local authority for whatever reasons actually granted and issued BU permission on 2nd April 2012. On appreciation of evidence and considering the material, the learned CIT [A] has specifically observed that as such project was already completed and constructed prior to 31st March 2012, however, BU permission was granted subsequently. Under the circumstances, when the project was already constructed and completed prior to 31st March ..... X X X X Extracts X X X X X X X X Extracts X X X X
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