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2018 (7) TMI 1988 - AT - Income TaxDeduction u/s. 80IB(10) - denial of deduction as assessee has failed to furnish completion certificate from the local authority i.e. PMC - CIT-A allowed deduction - HELD THAT:- In the instant case we find that the Architect issued completion certificate confirming completion of project as per sanctioned plan on 16- 02-2011. However, it is not emanating from records as to when the assessee applied to the local authority i.e. PMC for issuance of occupancy certificate. Assessee has pointed that the PMC has approved the issuance of completion certificate but has withheld the formal issuance of certificate for some compliance. This fact requires verification. The benefit of deduction u/s. 80IB(10) should not be denied to the assessee, if the assessee has applied to the PMC for issuance of completion/occupancy certificate before the due date i.e. 31- 03-2011. The issue is restored to the AO for the limited purpose to verify the date on which the assessee approached PMC for issuance of completion/occupancy certificate. The assessee is directed to furnish necessary relevant documents to AO indicating the date on which the assessee applied to PMC for issuance of completion/ occupancy certificate. AO after examining the documents and in the light of our above observations shall allow/reject deduction u/s. 80IB(10), as the case may be. - Appeal of Revenue is allowed for statistical purpose.
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