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2015 (11) TMI 1653 - AT - Income TaxEligibility for deduction u/s 80IB (10) - Gram panchayat Besa authority to sanction the plans of the housing project and to issue commencement certificate and completion certificate for housing project eligible for deduction - Held that:- The Bombay Village Panchayat Act, 1958 which has provided that sanction of construction of building within the limits of village has to be granted by the Panchayat. So, the argument before us is that the village Panchayat is a local authority, therefore, competent to approve a housing project. On this issue, a judgment has been passed by ITAT Nagpur Bench, Nagpur in the case of ACIT Vs M/s. Chintamoni Builders [2015 (10) TMI 2631 - ITAT NAGPUR] wherein a discussion of The Bombay Village Panchayat Act, 1958 was made and it was found that the sanction of the construction of a building being situated within the limits of village, the approval has to be granted by the Panchayat. Because of that reason, it was held that the Village Panchayat is a local authority. Prescribed area for the purpose of claim of deduction u/s 80IB (10) - Held that:- In support of the above claim, the assessee has furnished the copy of sanctioned map, lay out plan and demonstrated that the total plot area was above the prescribed limit of One Acre. In this regard, we have noted that hate first appellate authority has given a finding of facts demarcating the respective area of the plots and there upon came to the conclusion that the total area of the plots was above the prescribed limit of One Acre. We have noted that the said finding of fact had not been controverted by the Revenue Department. In the absence of any contrary material on record, we hereby confirm the findings of the learned CIT (A). As a result, the grounds raised by the Revenue Department are hereby dismissed. - Decided in favour of assessee
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