2012 (10) TMI 679

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..... filed against the orders dt.01-02-2011 of the CIT(A)- 39, Mumbai on the following Grounds of Appeal: "On the facts and in the circumstances of the case and in law, the ld. CIT(A) has erred in directing the Assessing Officer to allow proportionate deduction of 80IB(10) on flats which are having built up area of below 1000 sq. ft. "On the facts and in the circumstances of the case and in law, the .....

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..... o that, assessee filed returns of income as under: Assessments were finalized by the Assessing Officer (AO) u/s. 143(3) (3) r.w.s. 153(A) of the Act. S.No A.Y. Income declared as per Original Return (Rs) Date of filing of Original Return Income Returned u/s. 153A (Rs.) Date of filing 1. 2004-05 3,81,82,450 30-10-2004 3,81,82,450 19-11-2008 2. 2005-06 4,90,30,580 31-10-2005 4,90,30 .....

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..... built-up area less than 1,000 Sq. Ft., that Tribunal in various decisions had held that the assessee will not lose benefit u/s. 80IB(10) for whole project if a few of the flats were more than 1,000 Sq. Ft., He held that assessee was eligible for deduction 80IB(10) on proportional basis for the flats in which the built-up area was less than 1,000 Sq. Ft., He relied upon the order of the ITAT in the .....

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..... than 1,000 Sq. Ft., that FAA was legally correct in allowing proportionate benefit. He relied upon the cases of Sheth Developers (P) Ltd., [33 SOT 277 (Bom)]; Ekta Housing P. Ltd., Mumbai (ITA No. 3649/Mum/2009); Jahangir HC Jahangir, Mumbai (ITA No. 2050/Mum/2009); Mr. Johar Hassan Zojwalla(ITA No. 5404/Mum/2008); Shree Balaji Developers (ITA No. 2592/ Mum/ 2006); G.V. Corporation [38 SOT 174 (M .....

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..... ing to these decisions, finally, it was held that assessee was entitled to proportionate allowance u/s. 80IB(10) of the Act. We do not see any reason to disagree with our earlier order.Upholding the order of the FAA, we reject the Grounds of Appeal filed by the AO. Appeals filed by the AO stand dismissed. Order pronounced in the open court on 19th October, 2012.
Case laws, Decisions, Judgeme .....

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