Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1778 - HC - Income TaxRevision u/s 263 - deduction u/s 80IB(10) - HELD THAT:- Tribunal noted that the Assessing Officer had carried out the detailed inquiries about the satisfaction of the relevant condition. This was not a case where a claim was granted by the AO without inquiry. Tribunal noted that the stand of the assessee in this regard was supported by the decisions of the Tribunal on the same point. Inter alia on such grounds the appeal was allowed upon which the revenue has filed the present appeal. The materials on record would clearly suggest that the AO was conscious of the requirement of the area of the plot of land being not less than 1 acre. In this context, he had issued show cause notice to the assessee and called for his explanation. As noted, the assessee's explanation was twofold. Firstly, there was errors in the land documents which was corrected later on and second that the reduction in the area of land for road widening and such other public purposes should be ignored, in view of the fact that the assessee was allowed to utilize the full FSI. The assessing Officer accepted such explanations and granted the reduction. The view that the Assessing Officer adopted was at that time supported by the decisions of the Tribunal. The Assessing Officer having taken a plausible view, as is well settled to series of judgments of various High Courts and Supreme Court, the Commissioner could not have exercised Revisional power.
|