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2023 (8) TMI 71 - AT - Income TaxDeduction u/s. 80IB(10) on proportionate basis - AO noted that the partial completion certificate makes it clear the 22 bungalows part of Bloomfield project have not been completed before 30-01-2012 as mandated by section 80IB(10) - HELD THAT:- When, there is no satisfaction with regard to fulfillment of conditions as required u/s. 80IB(10) assessee is not entitled to claim deduction even on proportionate basis as held in the case of Vijay Tukaram Raundal [2022 (9) TMI 80 - ITAT PUNE] by following the decision of M/s. Dilip Kumar and Company & others [2018 (7) TMI 1826 - SUPREME COURT]. CIT(A) granted pro-rata deduction on eligible units even when the entire project have not been completed. Further, there is a clear recording of finding by the CIT(A) about 22 bungalows forming part of Bloomfield project which is a subject matter of this appeal were not completed by the stipulated date. Thus, the CIT(A) committed error in granting proportionate deduction even though the project has not been completed within stipulated time. Thus, the order of CIT(A) is not justified and it is set aside. Grounds raised by the Revenue are allowed.
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