Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 506 - HC - Income TaxDeduction u/s 80IB(10) - Whether building was completed within the stipulated time? - HELD THAT:- Tribunal noted that respondent-assessee had furnished the commencement certificate issued by the Bombay Municipal Corporation dated 10.09.2007 and, occupation certificate issued by the Municipal Corporation of Greater Mumbai dated 26.02.2013, besides other documents which clearly shows that there were approvals which cover full occupation / permission for all the blocks of the building project. In view of the above facts, Tribunal vide the order dated 03.11.2016, accepted the contention of the respondent-assessee that the building was completed on 31.03.2013 and occupation in respect of all the blocks of the project were obtained within the stipulated time limit on 31.03.2013. There being no violation of any of the conditions mentioned in Section 80IB(10)of the Act, the above claim of the respondent-assessee was allowed by the Tribunal. When the completion / occupation certificate was handed over to the respondent-assessee, the same was produced before the Tribunal. We see no harm in the Tribunal taking cognizance of this certificate. In so far reference to Rules 29 and 30 of the Income Tax (Appellate Tribunal) Rules, 1963 is concerned, it is trite that rules and procedures are the handmaid of justice which are required to be applied to advance the cause of justice and not to frustrate the same. Conclusion reached by the Tribunal that the building was completed within the stipulated time on 31.03.2013 is a finding of fact. Revenue has not questioned that this finding is incorrect or has not questioned the veracity of the completion / occupation certificate produced before the Tribunal. If that be so than it is merely an objection on procedure - No substantial question of law.
|