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2021 (10) TMI 467 - HC - Income TaxDeduction u/s 80IB (10) - partial completion of project - Housing projects - assessee had not completed the entire project by the stipulated date, i.e. 31.03.2008 as the date when project was first approved - whether the housing project should be considered to be completed without the parking of building ‘G’ as approved by the local authority? - completion certificate issued by the Pune Municipal Corporation was also in respect of only Buildings A, B, C, D, E, H and I and not in respect of Building ‘G’ - Tribunal allowed the deduction - HELD THAT:- As respondent has not claimed any deduction under Section 80IB (10) on the said building ‘G’. A question that was considered was . Undisputably the entire project excluding building ‘G’ has been completed within the stipulated period and the completion/ occupancy certificate was also received within the time limit prescribed under Section 80IB (10). As TDR for building ‘G’ was not available upto 2011, appellant could not have constructed the said building. As held in Vandana Properties [2012 (4) TMI 54 - BOMBAY HIGH COURT], the expression housing project is not defined under the Act and the expression housing project in common parlance should be accepted, which would mean constructing a building or group of buildings consisting of several residential units. In our view, the building ‘G’ cannot be part and parcel of the housing project because the TDR for constructing building ‘G’ itself was purchased on 19.04.2011. Consequently, in our view, respondent was entitled to claim of deduction under Section 80IB (10) of the Act. - Decided in favour of assessee.
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