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2016 (11) TMI 1246 - AT - Income TaxClaim of deduction under section 80IB(10) - prorata deduction under section 80IB(10) on such flats which complied with the conditions laid down under the said section i.e. where the area was less than 1500 sq.ft. - whether the area of the flats is within limits prescribed under the Act in order to avail the deduction under section 80IB(10) of the Act and in case it is so, then the said deduction cannot be denied to the assessee? Held that:- Assessee is entitled to prorata deduction of the completed flats, which fulfill the conditions laid down in section 80IB(10) of the Act. Upholding the order of CIT(A), we dismiss the grounds of appeal raised by the Revenue.See Income Tax Officer, Ward-2, Ratnagiri And Others Versus M/s. Paras Builders And Others [2015 (6) TMI 286 - ITAT PUNE] The Assessing Officer had confronted the assessee with the report of the DVO, who in turn, submitted another report claiming that the measurements made by its Valuer were correct as against the approximation of the DVO. In the totality of the above said facts and circumstances and in order to meet the ends of justice, we are of the view that the issue needs to be looked into at the level of Assessing Officer, who shall direct the DVO to measure each of 16 flats which, according to him exceeds area of 1500 sq.ft. The Assessing Officer shall also consider the valuation report submitted by the assessee in this regard and after providing reasonable opportunity of hearing to the assessee decide the issue in accordance with law. The grounds of appeal raised by the assessee are thus, allowed for statistical purposes.
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