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2022 (5) TMI 743 - AT - Income TaxDeduction u/s 80IB(10) - proportionate deduction - claim of the assessee for the deduction was disallowed for the A.Ys. 2006-07 and 2007-08 mainly on the ground that the completion certificate was not obtained from the local authority by 31.03.2008 owing to non-completion of the said building by the due date - assessee had projects in Sector 1 and Sector 7, for which development charges were paid as a single unified project but AO jettisoned the contention of the assessee that the projects on Sector 1 and Sector 7 were different and rejected the assessee‟s contention for giving proportionate deduction in respect of built-up area completed before 31.03.2008 - HELD THAT:- It is seen that the issue under consideration came up for consideration before the Tribunal. Vide its afore-referred order, the Tribunal held that Sector 1 and Sector 7 were different projects; housing project in Sector 1 was completed prior to the stipulated date and hence deduction u/s 80IB(10) of the Act was available; housing project in Sector 7 was not completed and hence the assessee was entitled to proportionate deduction u/s 80IB(10). Admittedly, there is no change in the facts and circumstances of the case. Respectfully following the precedent, we hold that the ld. CIT(A) was fully justified in following the order of Tribunal in holding that the assessee was entitled to deduction u/s 80IB(10) of the Act in respect of Sector 7 project on proportionate basis.- Decided against revenue.
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