Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 182 - AT - Income TaxDeduction u/s. 80IB(10) - AO had held that occupancy certificates (OC) was received by the assessee after the due date i.e. 31.3.2008 in case of KP and therefore, the assessee was not entitled to claim deduction u/s. 80IB(10) - FAA held that amended provisions were not applicable to KP - Held that:- Amended provisions were applicable to the projects that were approved before 1. 4. 2005. Thus we hold that assessee was not entitled to claim deduction u/s. 80IB in respect of building A-1, A-2, C-3, C-4, Club-house of KP. As far as building No. B- 1, B-2, B-3, B-4, C-1, C-2 are concerned it is found that OC was obtained on or before 31. 3. 2008, therefore, claim made by the assessee u/s. 80IB cannot be denied for those buildings. See Commissioner of Income-tax, Bhopal Versus Global Reality [2015 (10) TMI 2384 - MADHYA PRADESH HIGH COURT] - Decided in favour of revenue in part.
|