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2020 (8) TMI 314 - AT - Income TaxDeduction u/s 80IB - claim denied when the project was not completed within time limit - HELD THAT:- In assessment year 2010–11 and 2011–12, the assessee had preferred appeals before the Tribunal. In the course of hearing of appeal before the Tribunal, the assessee had furnished completion certificate issued by the competent authority as additional evidences. The Tribunal having found the completion certificate to be in order and being convinced with the fact that the conditions of section 80IB(10) of the Act have been fulfilled in all respect, allowed assessee’s claim of deduction under the said provision while disposing off the appeals [2017 (1) TMI 445 - ITAT MUMBAI]. It is worth mentioning, the aforesaid decision of the Tribunal was brought to the notice of the Assessing Officer in the course of the assessment proceedings for the impugned assessment year. However, the Assessing Officer has declined to follow the decision of the Tribunal on the flimsy grounds that he has not received a copy of the said order officially and further, that the Revenue reserves its right to contest the decision before the High Court. Once the Tribunal, being the last fact finding authority, has recorded a factual finding that the housing project was completed within the stipulated time frame and such finding of fact has also been upheld by the Hon'ble Jurisdictional High Court in assessee’s own case, there is no scope for the Assessing Officer to deny assessee’s claim of deduction under section 80IB(10) of the Act. No infirmity in the decision of learned Commissioner (Appeals) in allowing assessee’s claim of deduction under section 80IB(10) - Decided against revenue.
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