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2012 (4) TMI 639 - ITAT PUNEDisallowing the assessee’s claim of deduction u/s 80IB(10) - Held that:- Lay out plan/key plan is different from sanction of plan and commencement thereof. Assessee entered into development agreement dated 2-8-2004 with regards to portion of property of Smt. Sunita Mahadkar. So there is no question of any sanction and commencement prior to it. The commencement took place on this property of assessee admeasuring 52245 sq.ft. out of holding of Smt. Sunita Mahadkar acquired by assessee vide development agreement dated 28-2004. So, there was no question of commencement prior to 2-8-2004. The date of layout of previous owner i.e. 1-10-1998 should not be confused with date of sanction of plan and commencement thereof as held in the case of Aditya Developers (supra). Considering all the facts and circumstances, we are not inclined to interfere with the findings of the CIT(A) who has deleted the addition made by the Assessing Officer by way of disallowing the assessee’s claim of deduction u/s 80-IB(10) of the Act.
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