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2021 (9) TMI 118 - AT - Income TaxRevision u/s 263 by CIT - Allowability of claim of deduction u/s. 80IB(10) - sufficient OR no enquiry - whether AO's order was erroneous nor prejudicial to the interest of revenue? - HELD THAT:- AO examining the completion certificate issued by Bhopal Municipal Corporation dated 06.06.2009 and again a clarification letter dated 29.03.2014 which was directly called by the Ld. AO assert the fact that the housing project was completed within the stipulated time as provided u/s. 80IB(10) and accordingly claim u/s. 80IB(10) was allowed - CIT has not made any independent enquiry even after observing that the Ld. AO has allowed the deduction u/s. 80IB(10) of the Act after obtaining the completion certificate, still held that no enquiries were conducted to examine the genuineness of completion of housing project. Under the provision of section 80IB(10) assessee has to obtain a completion certificate from a competent authority which in this case is the Bhopal Municipal Corporation which is a statutory body working under a separate Act. Once the Bhopal Municipal Corporation has given a certificate that housing project has been completed on a certain dates, Revenue authorities cannot deny the deduction u/s. 80IB(10) of the Act alleging that the housing project is not complete. In case they are not satisfied with the contents of the completion certificate issued by Bhopal Municipal Corporation, they have option to file a writ before the Hon'ble Jurisdictional High Court but certainly they cannot deny the claim of deduction u/s. 80IB(10) of the Act which the assessee has claimed after obtaining all necessary certificate as well as the certificate from the Chartered Accountant and having fulfilled all the requirements of the provisions of section 80IB(10). AO has conducted sufficient enquiry, called for all necessary details and made proper application of mind and thus it can be safely concluded that the order u/s. 143(3) dated 31.03.2014 is neither erroneous nor prejudicial to the interest of revenue. - Decided in favour of assessee.
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