TMI Blog2005 (8) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... the condition given in clause (b) of sub-section (10) of section 80-IB cannot be treated as fulfilled by applying an arithmetical exercise on a notional basis. What is very clearly required by the above provision is that the size of the plot of land on which the housing project is built should have a minimum area of one acre. There is no ambiguity in the language of the clause (b) of section 80-IB(10). The area of the plot of land on which the impugned housing project was built by the assessee-builder, was only 3800 sq. mtrs., which was much less than one acre. In the circumstances, therefore, we see no infirmity in the conclusions reached by the CIT(A) and his order is accordingly upheld. In the result, the appeal filed by the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led a writ petition in Bombay High Court against the acquisition of their land; that on 31-3-1994 all the five societies entered into a compromise agreement with MAEER; that a compromise decree dated 30-3-1995 was passed by the Bombay High Court; that as per paragraph 3 page 2 of the relevant minutes, the State Government was to allot to the said society a buildable area of 3800 sq. mtrs. that as per paragraph 8 page 5 of the relevant minutes, MAEER was to provide to all the aforesaid five societies, from out of its land, the required additional open space and place for transformer; that as per the aforesaid compromise, the said society was allotted a plot of land of area of 3800 sq. mtrs. and the requisite open space of 380 sq. mtrs., aggr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee was a builder; that the land belonged to the said society; that the built up area allotted to the said society was only 3800 sq. mtrs.; that so far as the assessee-builder was concerned, the rate was confined to the area of 3800 sq. mtrs. with the open space allotted by MAEER in its own land was not identifiable and, therefore, could not be considered for being included in the area of the plot; that the condition given in clause (b) of section 80-IB (10) very clearly stated that the project was to be on the size of a plot of land which had a minimum area of one acre; that the area of the plot of land on which the assessee-builder developed/built the impugned project was only 3800 sq. mtrs. which was much less than the area of one acre; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . In the classic passage from Cape Brandy Syndicate's case (1921) 1 KB 64, 71, which was noticed in the judgment under appeal, it was said: 'In a taxing Act one has to look merely at what is clearly said. There is no room for any intendment. There is no equity about a tax. There is no presumption as to a tax. Nothing is to be read in, nothing is to be implied. One can look fairly at the language used'. 7. We find that in the present case, the condition with regard to the area of the plot of land as given in clause (b) of sub-section (10) of section 80-IB, is not fulfilled. Admittedly, for the impugned housing project, the assessee-builder had a plot of land admeasuring only 3800 sq. mtrs., which was much less than one acre. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The deduction under section 80-IB has been claimed by the assessee-builder and the plot of land that the assessee-builder had for building the impugned housing project had an area of only 3800 sq. mtrs., which was much less than one acre. Further, as pointed out by the ld. D.R., there is nothing on record to show that the ownership of the land which was to be used as open space was transferred by the MAEER in favour of the housing-societies. Also, the condition given in clause (b) of sub-section (10) of section 80-IB cannot be treated as fulfilled by applying an arithmetical exercise on a notional basis. What is very clearly required by the above provision is that the size of the plot of land on which the housing project is built should hav ..... X X X X Extracts X X X X X X X X Extracts X X X X
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