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2014 (2) TMI 303 - AT - Income TaxEligibility to claim deduction u/s 80IB of the Act – Non-fulfillment of the condition of limitation for built up area - Whether the amendment to Section 80IB(10)(d) having been made effective from 1.4.2005 is to be held retrospective or prospective – Held that:- The assessment years which also falls after the amendment made by insertion of Clause (d) to section 80IB(10) of the Act, applicable from 1.4.2005 has held that the assessee is eligible for deduction u/s 80IB(10) of the Act in respect of the housing project - there is no change in facts and circumstances in the assessment years under consideration viz assessment years 2007-08 and 2008-09 – Relying upon Manan Corporation V/s ACIT [2012 (9) TMI 700 - Gujarat High Court] - the orders of ld. CIT(A) upheld and the assessee is entitled for deduction u/s 80IB(10) of the Act for both the assessment years under consideration – Decided against Revenue. Return not filed within time limit u/s 139(1) of the Act – Held that:- sub-section (1) and (4) of section 139 have to be read together and in such a reading the return made within the specified time under sub-section (4) has to be considered as having been made within the time prescribed u/s 139(1) or (2) of the Act – The decision in Trustees Of Tulsidas Gopalji Charitable And Chaleshwar Temple Trust Versus Commissioner Of Income-Tax [1993 (9) TMI 75 - BOMBAY High Court] followed - Decided against Revenue.
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