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2017 (12) TMI 304 - AT - Income TaxRevision u/s 263 - entitled to deduction u/s 80IB - Held that:- Electrical installation charges and club membership fees were received by the assessee from the flat holders of the project on account of common facilities and amenities provided to the flat holders in the housing project developed by it. In the case of CIT vs Omaxe Buildhome (P) Ltd. (2016 (9) TMI 295 - DELHI HIGH COURT) has held that housing schemes are not only consisted of built up residential building, but also separate common facilities and amenities provided for residential unit of housing project. It was held that such common facilities and amenities are an integral part of the housing project and the assessee, therefore, would be entitled to deduction under section 80IB. Having regard to the facts of the present case which clearly show that the copy of the relevant sample agreement was filed by the assessee before the A.O. during the course of assessment proceedings to explain the nature of electrical installation charges and club membership fees received by the assessee, we are of the view that that there was no error in the order of the A.O. in allowing the claim of the assessee for deduction under section 80IB in respect of electrical installation charges and club membership fees received from the flat holders of the project. As regards the other error allegedly pointed out by the Ld. CIT in the order of the A.O, we find merit in the contention of the learned counsel for the assessee that the relevant amendment to section 80IB(10) having been made with effect from 01.04.2010 i.e. much after the sanction of the housing project of the assessee on30.03.2007, the same was not applicable in the case of the assessee as held in the case of CIT vs Sarkar Builders (2015 (5) TMI 555 - SUPREME COURT) and the order of the A.O. cannot be regarded as erroneous on the ground that the applicability of the said amendment in the case of the assessee was not considered by him. In our opinion, there were thus no errors in the order of assessment made by the A.O. under section 143(3) as alleged by the Ld. CIT warranting revision under section 263. Thus we set aside the impugned order passed by the Ld. CIT under section 263 and restore that of the A.O. passed under section 143(3). - Decided in favour of assessee.
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