9911796707
TMI Blog2012 (7) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... 30 sq. ft. Before the completion of the project, section 80-IB (10) came to be introduced. In order to have the benefit of the said property, the assessee purchased an adjoining piece of land measuring about 1,440 sq. ft. and clubbed the same with his land where he was putting up the housing project. The total area of the land became 44,740 sq. ft. The land which is minimum required for being eligible for the benefit. under section 80-IB (10) is 1 acre of land, namely 43,480 sq. ft. Thereafter, he applied for a modified plan to meet the requirement of section 80-IB (10). It was granted in the year 2001. On 20.5.2003 occupancy certificate has been issued. He has built 63 units. Each of the units is less than 1,500 sq. ft. Thereafter, he sold ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acre and not in an area of 38 guntas as held by the authorities. If common areas and balcony is excluded, all the flats are within 1,500 sq. ft. Therefore, they found no justification to deny the benefit of Section 80-IB (10) to the assessee. Accordingly, they set aside the order passed by the assessing authority as well as the Appellate Commissioner and granted the benefit to the assessee. Aggrieved by the said order, the revenue is before this Court. 5. We have heard the learned counsel appearing for the parties. 6. The appeal was admitted to consider the following substantial question of law: - Whether the Tribunal was correct in holding that the assessee had complied with the conditions provided in section 80-IB (10) of the Act subse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e housing project developed by the assessee and committed the error.' 8. Out of 63 flats it is stated 8 flats exceed the built-up area in excess of 1,500 sq. ft. In coming to the conclusion the authorities have taken into consideration the balcony area and the common area. Prior to 1.4.2005 as law stood then balconies and common areas have to be excluded for the purpose of calculating the built-up area. If those two areas are excluded, admittedly the apartments measure less than 1,500 sq. ft. In that view of the matter, the Tribunal was justified in setting aside the order passed by the lower authorities and granting exemption to the assessee to which he is legitimately entitled to. In that view of the matter, we do not find any merit in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
