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2016 (10) TMI 1031 - HC - Income TaxEligibility for deduction u/s 80IB (10) for two consecutive assessment years - approval granted by the Village Panchayat - Held that:- In the present matters, both the Authorities have concurrently recorded a finding of fact that the development of the housing project was completed within the time prescribed under Section 80IB(10) of the Act. In the admitted appeals, though it was sought to be canvassed on behalf of the Revenue that Gram Panchayat, Besa was not the ‘local authority', a substantial question of law was not framed in that regard. We further find from a reading of the judgment in the case of Commissioner of Income Tax vs. Cajetano Mario Pereira [2014 (5) TMI 228 - BOMBAY HIGH COURT] that this Court had considered the permission – approval granted by the Village Panchayat for the housing project to be as one granted by the ‘local authority' in accordance with the provisions of Section 80IB(10) of the Act. - Decided in favour of assessee.
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