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2015 (5) TMI 401 - AT - Income TaxDisallowance of the claim u/s 80IB(10) - assessee had claimed the deduction under section 80IB(10) of the Act against the sale proceeds of residential project ‘Daffodil Avenue’ - Held that:- As relying on Siddhivinayak Kohinoor Venture Vs. ACIT [2013 (10) TMI 1295 - ITAT PUNE ] merely because the assessee had not completed the building No.D within prescribed time under the provisions of Act, the deduction under section 80IB(10) could not be denied in entirety. The assessee is entitled to the prorata deduction under section 80IB(10) of the Act in respect of building Nos.A, B and C which have been constructed as per the conditions laid down in section 80IB(10) of the Act. Reversing the order of CIT(A), the Assessing Officer is directed to allow the prorata claim of assessee under section 80IB(10) of the Act in respect of building Nos.A, B and C. Thus, the grounds of appeal raised by the assessee are allowed.
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