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2014 (10) TMI 970 - AT - Income TaxDeduction claimed u/s 80IB (10) - partial completion certificate received - Held that:- It is an admitted fact that the facts and circumstances of the present case are identical to the facts and circumstances in the earlier years i.e. assessment years 2008-09 and 2009-10 and following the same parity of reasoning, we hold that the assessee is entitled to claim of deduction under section 80IB (10) of the Act in relation to the profits derived from the housing project Harsh Paradise. Second residential unit allotted in the same project to two members of the said family - Applicability of the amended provisions of sub section (f) to section 80IB (10) of the Act - Held that:- The amended provisions having been introduced on a later date cannot be applied to the transactions completed before the said provisions were introduced were amended as the assessee cannot be expected to do deeds which are impossible. Applying the ratio laid down by the Hon'ble Supreme Court in the case of Krishnaswamy S. Pd. v. Union of India (2006 (2) TMI 75 - SUPREME Court) and in the case of CIT Vs. Revathi Equipment Ltd. (2007 (6) TMI 154 - MADRAS HIGH COURT), we hold that the assessee is entitled to claim of deduction under section 80IB (10) of the Act in respect of the flat allotted to Mrs. Nalini Andar i.e. second residential unit allotted in the same project to two members of the said family. The amended clause (f) to section 80IB (10) of the Act are to be applied w.e.f. 19-08-2009 and cannot be used to deny the deduction under section 80IB (10)in respect of the residential unit allotted 14 prior to the coming into operation of amended provisions i.e. clause (f) inserted to section 80IB (10) of the Act. - Decided against revenue
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