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2014 (6) TMI 1020 - AT - Income TaxClaim of pro-rata deduction u/s.80IB(10) - entire project is not completed before the stipulated date - non-completion of the few buildings - Held that:- We find the Ld.CIT(A) allowed the claim of proportionate deduction u/s.80IB(10) for A.Yrs. 2004-05 to 2007-08 by relying on various decisions. However, for the A.Y. 2008-09 the Ld.CIT(A) denied the claim of benefit of deduction u/s.80IB(10) by relying on the decision of the Hyderabad Bench of the Tribunal in the case of Sainath Estate Pvt. Ltd.[2013 (9) TMI 528 - ITAT HYDERABAD], Everest Home Construction India Pvt. Ltd. [2012 (9) TMI 585 - ITAT MUMBAI] and the decision of the Mumbai High Court in the case of Brahma Associates [2011 (2) TMI 373 - BOMBAY HIGH COURT]. We find the Pune Bench of the Tribunal in the case of Siddhivinayak Shree [2013 (7) TMI 1123 - ITAT PUNE] after considering the decision in the case of Sainath Estate Pvt. Ltd.(Supra), the decision of the Mumbai Bench of the Tribunal in the case of Everest Home Construction India Pvt. Ltd. (Supra) has allowed the claim of proportionate deduction u/s.80IB(10) of the I.T. Act, 1961. We are of the considered opinion that the assessee is eligible for pro-rata claim of deduction u/s.80IB(10) with respect to the eligible units of the housing project. We, therefore, uphold the order of Ld.CIT(A) for A.Yrs. 2003-04 to 2007-08. The order of Ld.CIT(A) for A.Y. 2008-09 is set-aside and the AO is directed to allow proportionate deduction for the eligible units.
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