Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (5) TMI 319 - AT - Income TaxDisallowance of deduction u/s 80IB(10) - non filing of completion certificate for the claim - Held that:- The Hon’ble Delhi High Court in the case of CIT vs. Jansampark Advertising and Marketing P. Ltd. [2015 (3) TMI 410 - DELHI HIGH COURT] held that the Tribunal being the final fact finding authority, is under an obligation to direct the A.O. to make proper enquiries if the discrepancies and facts are brought to its notice. In view of the same, we deem it fit and proper to remand the issue to the file of the A.O. with a direction to examine and verify whether the total plinth declared by the individual owners includes the common area and if it is found that the built-up area of any of the flats is exceeding 1500 sq. feet, then the deduction under section 80IB(10) shall be computed proportionately. The issue with regard to filing of completion certificate for the claim of deduction under section 80IB(10), is covered in favour of the assessee by the decision of Hon’ble Karnataka High Court in the case of Ittina Properties P. Ltd., (2014 (8) TMI 388 - KARNATAKA HIGH COURT ) and therefore, the A.O. shall not insist upon the said certificate for allowing deduction under section 80IB(10) of the Act. - Decided in favour of assessee.
|