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2016 (7) TMI 192 - HC - Income TaxEntitlment to deduction u/s. 80IB (10) - ITAT allowed the claim - Held that:- In case of Commissioner of Income Tax vs. Voora Property Develop P. Ltd.(2015 (3) TMI 456 - MADRAS HIGH COURT ) held and observed that when the project fulfilled the criteria for being approved as a housing project, the deduction under Section 80IB(10) could not be denied on the ground that the assessee had obtained a separate plan permits for the six blocks. In this case also, the assessee had claimed deduction on the basis of composite development of housing project under six different blocks, the combined area of which exceeded one acre. - Decided against revenue Belated deposit of tds - disallowance u/s 40(a)(ia) - ITAT delted the addition - Held that:- The assessee having deducted tax at source, had deposited such tax with the Revenue not by 31.03.2006, as was required, but on 31.05.2006, which was before filing of the return. In that view of the matter, the Tribunal followed the decision of the Gujarat High Court in case of Commissioner of Income Tax, Ahmedabad IV vs. Omprakash R. Chaudhary [2015 (2) TMI 150 - GUJARAT HIGH COURT ], in which, it was held that the amendment made to Section 40 (a) (ia) by the Finance Act of 2010 granting additional time for depositing the TDS upto the due date of filing of the return would apply with retrospective effect from the date of the insertion of Section 40(a)(ia) i.e. from 01.04.2005. Since the assessee had deposited the tax before the due date of filing of the return, the Tribunal granted the benefit correctly.- Decided against revenue
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