Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 514 - HC - Income TaxDeduction u/s 80IB(10) of the Act – Held that:- CIT(A) and the Tribunal found that the reliance only on the brochure or copy would not be enough to uphold the exercise undertaken by the AO - the Tribunal as also the Commissioner has clarified that in the facts and circumstances the deduction could not be disallowed - the finding of fact cannot be construed as allowing deduction in all cases of the present nature - The payments have been made on the same date - there are separate agreements and that some of them may be that of related persons - there is no prohibition in law in the related persons purchasing different units or units adjacent to each other - Commissioner and equally the Tribunal's order should not be construed to mean that the deduction can be claimed on the footing that in all the cases where the construction as per the plan denotes the residential units of maximum built up area but on the site the position being different then still the deduction can be claimed – as such no question of law arises for consideration – Decided against Revenue.
|