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2021 (8) TMI 167 - AT - Income TaxDenying deduction u/s. 80IB(10) - denial of deduction to sale of one flat in ‘B’ Wing - eligible units in terms of order of proportionate deduction - CIT(A) held the project in ‘B’ Wing is incomplete and denied deduction in respect of profits earned on Flat No. 002 in ‘B’ Wing - HELD THAT:- Housing project undertaken by the assessee, consists of ‘A’ and ‘B’ Wings totaling to 48 and 20 flats, respectively. In the year under consideration, the assessee claimed deduction in respect of two flats in ‘A’ Wing and one flat in ‘B’ Wing. Therefore, we find force in the arguments of ld. AR the assessee is entitled to claim deduction in respect of Flat Nos. 904 and 1001 in ‘A’ Wing and 002 in ‘B’ Wing which are covered by the Completion Certificate Part-1 issued by the Compete Authority Municipal Corporation of Pune. DR did not bring on record any evidence showing these flats are not covered by the Part-1 Completion Certificate issued by the Pune Municipal Corporation vide order dated 23-03-2011. Thus, we hold that the assessee is entitled to claim deduction u/s. 80IB(10) of the Act against the Flat Nos. 904, 1001 and 002 in ‘A’ and ‘B’ Wings, respectively as eligible units in terms of order of proportionate deduction as laid down by this Tribunal in assessee’s own case for A.Y. 2012-13. Thus, the order of CIT(A) is not justified and sole ground raised by the assessee is allowed.
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