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2018 (2) TMI 178 - AT - Income TaxClaim of deduction u/s. 801B(10) - conditions contemplated under the said statutory provision were not found to be satisfied by the assessee - (i) that as the Building “E” was only a part of the project which had commenced in the year 1993 as per the Commencement Certificate dated 09.06.1993, therefore, the approval of the Building “E” was just an endorsement of the original Commencement Certificate dated 09.06.1993; (ii) the size of the Plot on which the Building “E” was constructed was less than 1 acre; and (iii) the provisions of Sec. 80IB(10) was clearly restricted to only one project on minimum area of 1 acre. - Held that:- We find that the Hon’ble High Court of Bombay in the case of CIT-25, Vs. M/s Vandana Properties [2012 (4) TMI 54 - BOMBAY HIGH COURT] while disposing of the appeals of the assessee for A.Y(s) 2004-05 & 2005-06 had held that the assessee was entitled towards claim of deduction under Sec. 80IB(10) in respect of Building “E”, after deliberating on the various aspects on which the claim of the assessee was assailed by the revenue before it - Decided in favour of assessee.
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