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2019 (1) TMI 1084 - HC - Income TaxDeduction u/s. 80IB(10) denied - assessee not having obtained completion certificate within four years from the end of the financial year in which the project was approved by the local authority - Held that:- This issue is now no longer res integra as it stands concluded against the Revenue by the decision of this Court in CIT v/s. Hindustan SamuhAwas Ltd.[2015 (10) TMI 2306 - BOMBAY HIGH COURT] wherein as held that whether the project is completed within the time framed provided under Section 80IB(10) of the Act, and an application for issuance of completion certificate is filed within time, then delay on account of the competent authority in issuing completion certificate would not deprive the Assessee, the benefit of Section 80IB(10) of the Act. In the present case on facts, it is found that not only the project was completed within time but an application for granting of certificate was also made well within the time. Thus, the Respondent should not suffer on account of the delay at the hands of the Competent Authority issuing the certificate. In passing, we may also point out that the approval of plans and commencement certificate were received by the Respondent in respect of the project before the amendment to Section 80B of the Act on 1st April, 2005. In such cases, this Court has taken a view that the time limit provided by the amendment to complete the construction by obtaining completion certificate will not apply - Decided against revenue
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