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2023 (2) TMI 353 - AT - Income TaxDeduction u/s 80IB(10) - date of approval of original building plan - Claim denied as date of completion of the housing project is 23.03.2010, which is beyond the prescribed time lime for completion of the housing project under the provisions of section 80IB(10) - HELD THAT:- As onus of satisfying the conditions precedent for availing the benefit of deduction u/s 80IB always lie upon an assessee, who is claiming the benefit of deduction. In the present case, as stated by us supra, the assessee had failed to prove that the permissions for construction of the housing project were obtained on 12.09.2005 for the first time except harping on that the permissions for obtain for the first time only on 12.09.2005. As observed even the permissions obtained on 12.09.2005 contained a reference to the original permission obtained on 01.07.2003, which clearly establishes that the approvals for building permission were obtained for first time only on 01.07.2003. The reliance placed by the ld. CIT(A) on the decision of CIT vs. Vandana Properties,[2012 (4) TMI 54 - BOMBAY HIGH COURT] and the decision of Voora Properties (P) Ltd.[2015 (3) TMI 456 - MADRAS HIGH COURT] is misplaced, inasmuch as, the ratio laid down in those cases has no application to the facts of the present case. We are of the considered opinion that the assessee is not eligible for deduction of profits derived from execution of housing projects “Ruby” and “Emerald” u/s 80IB(10) of the Act. We consider unnecessary to delve into the issue of violation of other conditions for availing the benefit of deduction u/s 80IB(10) of the Act. Since, we held in foregoing paragraphs that the respondent-assessee is not eligible for benefit of deduction u/s 80IB(10) for failure of assessee to satisfy the condition precedent. Appeal filed by the Revenue stands allowed.
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