TMI Blog2013 (11) TMI 1694X X X X Extracts X X X X X X X X Extracts X X X X ..... e relevant A.Y. 2007-08, as the project for which the deduction U/s 80IB of the Act has been claimed was approved by the LDA on 08- 01-2002 started the project prior to 01-04-2005. 2. The CTT (A) has erred in law and on facts of the case in holding that there was no such requirement as regards furnishing of completion certificate till 2005 in spite of absolutely clear provisions of sec. 80IB (a)(i) which says that in case where a housing project has been approved by the local authority between 01-10-98 01-04-04, the project should be completed on or before 31-03-2008. 3. The CIT(A) has erred in law and on facts of the case in holding that area of terrace balcony is not includible in the built up area in case of projects whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim of the assessee for deduction u/s 80IB(10) of the Act. Being aggrieved, the assessee carried the matter before the CIT(A), who has dealt with all these objections of the Assessing Officer but did not find merit in any of these objections and hence, he deleted the disallowance made by the Assessing Officer. 4. Learned D.R. supported the assessment order and placed reliance on the judgment of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. Vs Commissioner of Income-tax [1996] 196 ITR 188 (SC). 5. Learned DR of the revenue supported the assessment order. As against this, Learned A.R. of the assessee supported the order of learned CIT(A). He also placed reliance on the following judicial pronouncements: (a) CIT vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 500 sq. ft. On the basis of this factual finding, it was held by learned CIT(A) that in view of this, the Assessing Officer is not justified in adopting the built up area of the assessee s flats as more than 1,500 sq. ft. Learned D.R. could not controvert this finding of learned CIT(A) and therefore, on this aspect also, we do not find any reason to interfere in the order of learned CIT(A). 6.2 The most important objection of the Assessing Officer is that the project has not been completed before 31/03/2008 as per the amended provision of section 80IB(10) of the Act. On this issue, reliance has been placed by learned A.R. of the assessee before us on the judgment of Hon'ble Gujarat High Court rendered in the case of Manan Corporation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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