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2020 (9) TMI 611 - AT - Income TaxDeduction u/s 80-IB(10) - project was not completed within 4 years from the date of commencement of the project - HELD THAT:- As held in the case of CIT vs. Tarnetar Corporation [2012 (10) TMI 803 - GUJARAT HIGH COURT ] the requirement of formal issue of completion certificate from local authority within the time period is not mandatory in nature and if the project is found to be completed within the time period on evidence, the claim of the assessee for deduction u/s 80IB cannot be denied on this technical ground. Case of Siddhivinayak Kohinoor Venture vs. ACIT [2013 (10) TMI 1295 - ITAT PUNE] for the assessee, this Tribunal allowed the claim of the assessee for deduction u/s 80IB on the basis of the certificate of Architect confirming the construction of building within the stipulated time and the fact that the application for obtaining completion certificate was moved by the assessee before the local authority well within the stipulated period. As observed by the Tribunal that the delay in issuing of completion certificate by the local authority was not attributable to the assessee or to any noncompletion of constriction and, therefore, the claim of the assessee u/s 80IB could not be denied. Claim of the assessee of having completed the project comprising of building A, B and C was duly supported and substantiated by the details and documents furnished by the assessee and since the assessee had substantially complied with the requirement of section 80IB(10), the Assessing Officer was not justified in denying his claim for deduction under the said provisions merely on technical ground that the completion certificate was not issued by the local authority before the due date of completion. In this view of the matter, we uphold the impugned order of the ld. CIT(A) directing the Assessing Officer to allow the claim of the assessee of deduction u/s 80IB(10) in respect of the project comprising of building A, B and C and dismiss this appeal of the Revenue.
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