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2019 (5) TMI 109 - HC - Income TaxRevision u/s 263 - allowability of deduction u/s 80IB(10) to land owner who does not undertake the construction work himself - land owner who is equally a partner in the "development" of Industrial Undertaking other than the Infrastructure Development Undertaking - erroneous order and prejudicial to the interests of the Revenue - HELD THAT:- Nothing in Section 80IB(10) to deny the benefit of Deduction to the land owner also, who is equally a partner in the "development" of Industrial Undertaking other than the Infrastructure Development Undertaking. Without the land, obviously, the construction of building cannot be undertaken and therefore, the land owner is an integral part of the development of the Buildings. It is considered to be an Industrial Undertaking other than Infrastructure Development in view of the said provision. Merely because the land owner does not undertake the construction work himself, the land owner cannot be excluded from the ambit and scope of Section 80IB(10). The Tribunal has, therefore, has by citing its earlier decision in the case of Sri Lakshmi Brick Industries, [2012 (11) TMI 1090 - ITAT CHENNAI] wherein such benefit was allowed to the extent of 1/2 to both the land owner and the developer who constructed the building in question, has rightly given the said benefit to the land owner, the present Assessee before us and has rightly set aside the order passed by the Commissioner of Income Tax u/s 263 - no substantial question of law - Decided against revenue
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