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2014 (10) TMI 259 - ITAT MUMBAIDeduction u/s 80IB(10) - Two contigoues flats purchase by buyers is only one residential unit which were having built up area more than 1000 sq. ft. or not – Held that:- Except the advertisement/pamphlet in question, the Revenue has not produced any evidence on the file that the flats in question have been adjoined by the assessee to make it a unit - the assessee has produced the documents, which forms part of the official records, the separate sale deeds were executed for each of the flats and separate electricity connections were obtained for each of the flats - The assessee has not sold the said flats as a single unit but as separate units to the purchasers - It is not the case of the Revenue that the assessee had violated any of the provisions of section 80IB(10) of the Act at the time or before the sale of flats in question - Even if we assume that end users might have joined the two flats on a floor so as to make it one unit, then no fault can be attributed on the part of the assessee. Following the decision in Emgeen Holdings (P.) Ltd. Versus Deputy Commissioner of Income-tax, Range 9(1) [2011 (7) TMI 199 - ITAT MUMBAI] - the amendment has been brought with prospective effect i.e. from 1st day of April, 2010, and there is no indication whatsoever to suggest that these restrictions need to be applied with retrospective effect - The amendment seeks to plug a loophole but restricts the remedy with effect from 1st day of April, 2010, i.e. AY 2010-2011 - The law is very clear that unless provided in the Statute, the law is always presumed to be prospective in nature - there was no need of the insertion of clause (f) to section u/s 80IB(10) - It will be unreasonable to proceed on the basis that legislative amendment was infructuous or uncalled for -particularly as the amendment is not even stated to be 'for removal of doubts'. On the contrary, this amendment shows that no such eligibility conditions could be read into pre-amendment legal position – thus, the assessee is entitled to deduction u/s 80IB(10) of the Act in respect of the 94 flats – Decided in favour of assessee.
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