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2013 (7) TMI 776 - HC - Income TaxDeduction u/s 80IB - A.O. granted deduction to assessee - CIT used revision power and made disallowance holding that A.O. failed to make necessary inquiries - Tribunal deleted disallowance - Held that:- assessee had filed the details and calculations about the built-up area of the residential units. It would be unreasonable to hold that the Assessing Officer ignored those details - The Assessing Officer was thus made aware of the dates on which the approvals were granted in respect of each of the four housing projects - determination of the question as to when the undertaking commenced development and construction, in the absence of any statutory prescription, has to be decided in a pragmatic and reasonable way. It would have been an entirely different issue had there been a statutory prescription of what would be the date of commencement of construction or development. It is certainly a debatable issue on which more than one plausible view is reasonably possible and merely because the Assessing Officer has taken one plausible view, it cannot be said that the assessment is erroneous or prejudicial to the interest of the Revenue - Decided against Revenue. Whether the respondents could have been assessed on the basis of ALV of the unsold flats - Held that:- Assessee could have been assessed on the basis of ALV of the unsold flats - Following decision of COMMISSIONER OF INCOME TAX Versus M/s ANSAL HOUSING FINANCE AND LEASING CO LTD & OTHERS [2012 (11) TMI 323 - DELHI HIGH COURT] - Decided in favour of the Revenue.
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