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2016 (6) TMI 548 - AT - Income TaxDeduction under section 80IB(10) - Held that:- In the year under consideration, i.e. A.Y. 2008-09, we find that the learned CIT(A) had examined and found from the report of the Inspector of Income Tax dated 02.03.2007 that with respect to the claim for deduction in respect of the four buildings in Vijay Garden, all requisite documents including the commencement and completion certificates are obtained and placed on record. The learned CIT(A) has also observed that the Occupancy Certificate is issued by the competent authority only after the completion certificate is issued by the Architect and that all the required documentation for issue of the Occupancy Certificate has been placed before the competent authority, and therefore the claim for deduction under section 80IB (10) cannot be denied for the reasons that the completion certificate has not been obtained from the local authorities. It has also been observed by the learned CIT(A) that when the assessee’s return for the year under consideration has been e-filed, the original documents/ annexures, Audit Report, etc. are to be produced before the AO in the coruse of assessment proceedings; which has been done in this case. Before us, except for raising the grounds (supra), the learned D.R. for Revenue has not been able to bring on record any material evidence to contradict the findings of facts rendered by the learned CIT(A) that the assessee has fulfilled the conditions laid down for being allowed deduction under section 80IB(10) of the Act. In this factual matrix of the case, as discussed above, we uphold the order of the learned CIT(A) in holding that the assessee is entitled to be allowed deduction under section 80IB(10) of the Act in this year. - Decided in favour of assessee
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