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2011 (1) TMI 1215 - AT - Income TaxDeduction u/s 80IB – Date of completion of project – Pune Municipal Corporation has not issued Occupancy Certificate on or before 31/3/2008 - PMC has failed to issue objection within 21 days of receipt of the Completion Certificate Held that:- The objections raised after expiry of 21 days no major deviation or unauthorised construction if any has been shown, it would be just and proper to treat the date after expiry of 21 days from receipt of Completion Certificate as date of completion for the purpose of meeting the requirement of Explanation (ii) below Sec. 80IB(10)(a) with this understanding that PMC will continue with its action against the assessee to set the stated objections if any, at right. Treat the date of issuance of such Occupancy Certificate along with Certified Completion plan as the date of Completion Certificate of the construction for the requirement of Explanation (ii) to Section 80IB(10)(a). Since in fact PMC do not issue Occupancy Certificate generally in time and with this understanding the Legislature have also introduced a deeming provision of 21 days to put constraint upon PMC, we after detailed deliberation in preceding paragraphs have come to a conclusion that in case of small objections of PMC raised after expiry of deeming period of 21 days under Rule 7.7 of DC Rules under PMC, the date when the applicant acquired deeming sanction will be treated as the date of Completion (occupancy) Certificate to meet out the requirement of Explanation (ii) to Section 80IB (10)(a) In favour of assessee
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