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2013 (12) TMI 632 - AT - Income TaxDeduction u/s 80lB(10) – . A search and seizure action u/s. 132 of the Act was conducted -The assessee has constructed houses which exceeded the prescribed limit of 1500 sq.ft of built up area – The assessee has failed to comply with the condition precedent u/s 80IB i.e. the built up area of each unit should not exceed 1500 sq.ft and, accordingly, disallowed the claim of the assessee Held that:- the AO has rejected the claim based on Physical verification and report of Govt. approved valuer and Statement of the Director u/s 132[4] - The AO based his finding on the statements of the site engineer and one of the resident of 'J' Block without affording any opportunity to the assessee to cross examine the witnesses - The AO and the CIT(A) both have violated the principles of natural justice - The AO should get the physical verification of the flats at J and K Block of the project through the DVO .It is also suggested that the each and every occupant of the flats should be contacted to verify whether any addition/alteration was done by them or the built up area is same as it was purchased originally, this can also be verified from the municipal authorities who have fixed municipal taxes for each unit separately - Decided against Revenue and the appeal was restored back for denovo assessment.
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