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2022 (9) TMI 349 - Income Tax
Deduction u/s 80IB(10) - mandation of having one project being one acre of plot - plot was divided into two parts due to 30 meters reservation on DP road and 30 meters reservation for HCMTR - HELD THAT:- As decided in assessee own case [2018 (9) TMI 1905 - ITAT PUNE] issue regarding two plots had arisen because of the mistake of Architect where the plot was only one, but only for the sake of convenience, numbering was shown as plot No.I and plot No.II by the Architect. The Tribunal after noting various other aspects held that reservation on account of DP road as well as HCMTR would not alter the fact that the said plot was one plot and mere division on account of reservation would not change the character of existing plot. The conditions stipulated in section 80IB(10) of the Act, of the project being one acre of plot, was held to be fulfilled.
Conditions stipulated in section 80IB(10) for claiming deduction have been fulfilled by the assessee and necessary evidences have been furnished and therefore, for the year under consideration, the assessee was entitled to get deduction u/s 80IB(10) of the Act. The ld. D.R fairly conceded that the issue is covered in favour of the assessee.
Respectfully following the aforestated decision of Pune Tribunal on the same parity of reasoning and the same set of facts and circumstances, the claim of deduction u/s 80IB(10) of the Act which has been allowed to the assessee by the ld. CIT(A) following the Tribunal‟s order (supra) cannot be faulted with for any reason whatsoever. The relief provided to the assessee is sustained.