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2015 (1) TMI 1376 - AT - Income TaxDisallowance of deduction claimed u/s 80IB(10) - adherence to condition of completion - assessee did not submit completion certificate from Competent Authority which according to the opinion of AO and Ld. CIT(A) is CIDCO - Held that:- The assessee had not only submitted the project completion certificate issue by the Gram Panchayat but also various evidences to show that the project was completed by 31/03/2008 and these evidences have also been described in para 3.4 of this order. In our opinion it will not be relevant to go into much detail for this issue as it is clear from the decisions of Hon’ble Delhi High Court in the case of CIT vs. CHD Developers [2014 (1) TMI 1542 - DELHI HIGH COURT] and Hon’ble Madras High Court in the case of CIT vs. Jain Housing Construction (2012 (11) TMI 588 - MADRAS HIGH COURT) that such condition of submission of completion certificate was not applicable to the projects which have been approved by the Public Authority before 31/3/2005. In the present case the project was approved for commencement vide letter of CIDCO dated 05/03/2004. Thus, the project was approved for commencement before 31/3/2005 and old law will apply when it was not a condition precedent to submit completion certificate. Thus we hold that deduction u/s. 80 IB (10) cannot be denied to the assessee for want of completion certificate from CIDCO. - Decided in favour of assessee
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