TMI Blog2016 (10) TMI 1346X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee had commenced before 01.10.1998. We uphold his order. As assessee pointed out that housing project consisted of seven buildings and in respect of A,B,C,D,E,F and G wings occupancy certificates were obtained and possession handed over to flat purchasers who started residing in the allotted flats. It is pointed out that the occupancy certificate issued by the Local Authorities clearly proves that the work in respect of the habitable area of the housing project was complete in all respects. All these facts have not been controverted before us, and the same have been duly considered and accepted by the Tribunal in its order dated 23/9/2016(supra) for assessment year 2011-12. In view of the precedent in the case of assessee f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in law, the Ld. CIT(A) erred in allowing deduction under section 80IB(10) of the I.T. Act ignoring the fact that the approval of the local authority was obtained on 28/11/1992, i.e. much before 01.10.1998, the date on or after which the project approved were eligible for deduction under section. 80IB(10). 2) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in allowing deduction under section. 80IB(10) of the I.T. Act ignoring the fact that it has not obtained completion certificate from local authority before 31.03.2008 which is mandatory as per explanation (ii) to Section 8l0IB(10) of the Act. 3. Before us, it was a common ground between the parties that both the issues raised in this appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iture, whatsoever, has been shown to be incurred on the housing project for which approval was obtained by the assessee after entering into Development Agreement, i.e. on 10th July, 2003. The expenditure incurred by M/s. Gas Property Developers were not on the housing project approved by the municipal corporation on the revised layout. 19. plan submitted by the assessee after entering into development agreement. The expenditure incurred by M/s. Gas Property Developers was on repair of the boundary wall. Therefore, on the basis of the earlier approval obtained by M/s. Gas Property Developers, which has already lapsed, and the expenses were on account of repair of boundary wall the project cannot be stated to have been commenced before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was approved prior to the amendment made in the statute relating to the due date of completion. Further, the CIT(A) records a finding in paras 3.4.4 and 3.4.5, that in any case; assessee has completed the construction work in all respects before 31/8/2008 and obtained the occupancy certificate also. Even before us, the Ld. Representative for the assessee pointed out that housing project consisted of seven buildings and in respect of A,B,C,D,E,F and G wings occupancy certificates were obtained and possession handed over to flat purchasers who started residing in the allotted flats. It is pointed out that the occupancy certificate issued by the Local Authorities clearly proves that the work in respect of the habitable area of the housing pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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