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2016 (2) TMI 600 - AT - Income TaxEntitlement to deduction under section 80IB(10) - Held that:- As in the instant case, no certificate was issued by the Architect. Moreover, the requisite application for issuance of completion certificate was not moved in proper format and along with requisite documents. Therefore, in the light of these facts, it cannot be held that the project was completed within the prescribed period. We, therefore, following the order of the Tribunal for assessment year 2006-07, hold that in case of Fortuna Apartment, the assessee is not entitled for deduction under section 80IB(10) of the Act. In the case of Fortuna Reviera Blues Housing Project, the assessee has placed reliance upon a letter dated 29.3.2011 in which a request was made for issuance of completion certificate, but this letter is not supported by any Architect Certificate. Except this letter, no other evidence was filed to establish that the project was in fact completed before 31.3.2011. In the absence of any other specific evidence to establish that the project was completed before 31.3.2011, it is not possible for us to hold that the project was completed within the prescribed period, more so in the light of the fact that the completion certificate was issued on 26.9.2011 and also in the light of the judgment of the Hon'ble M.P. High court in the case of CIT vs. Global Reality (2015 (10) TMI 2384 - MADHYA PRADESH HIGH COURT ), according to which the date of issuance of completion certificate is the date of completion of the project. In the light of these facts, we are of the view that the assessee is not entitled for deduction under section 80IB(10) of the Act in respect of Fortuna Reviera Blues Housing Project also. - Decided against assessee
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