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2017 (12) TMI 1391 - AT - Income TaxClaim for deduction under section 80IB - deduction was claimed by the assessee in respect of completed 3 blocks - lower authorities rejected the assessee’s claim on the ground that the entire housing project had not completed by the assessee within the stipulated period - Held that:- Even a single building consisting of a number of residential units could be considered to be a housing project by itself eligible for deduction under section 80IB(10). It was held that even though the assessee had not completed the construction of all blocks of housing project, that would not deprive the assessee from availing deduction under section 80IB(10) in respect of the completed blocks on standalone basis. Respectfully following the said decision of coordinate bench of this Tribunal in the case Vertex Homes Pvt. Ltd. (2015 (9) TMI 549 - ITAT HYDERABAD), we uphold the impugned order of the Ld. CIT (A) allowing the claim of the assessee for deduction under section 80IB subject to the verification by the AO that the five phases of the project completed by the assessee are eligible for deduction under section 80IB on standalone basis by treating the same as one project by itself. Subject to the said verification, the impugned order of the Ld. CIT (A) on this issue is upheld. - Decided against revenue
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