Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 528 - AT - Income TaxProportionate deduction u/s.80IB(10) - few residential units which undisputedly complied with the conditions of the said section - HELD THAT:- As decided in COSMOS DEVELOPERS [2013 (11) TMI 425 - ITAT MUMBAI] even if claim was to disallowed it should have been restricted to ten flats only. We also hold that AO was not justified in denying the entire claim made by the assessee. We find that the FAA had directed the AO to calculate disallowance on basis. In short, in our opinion, AO was not justified in disallowing the entire claim made u/s.80IB of the Act on both counts-delay in obtaining CC and size of flats. FAA has rightly held that assessee was eligible for proportionate deduction. - Decided against revenue.
|