9911796707
TMI Blog2013 (6) TMI 437X X X X Extracts X X X X X X X X Extracts X X X X ..... eal by the Revenue is directed against the order of Ld. Commissioner of Income-tax (Appeals)-II, Baroda dated 03-12-2009 for assessment year 2006-07. The Revenue has raised solitary ground, which reads as under:- "1. On the facts and in the circumstances of the case and in law, the ld. C.I.T.(Appeals) erred in allowing deduction u/s. 80IB(10) in respect of the proceeds attributable to the sale of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld. CIT(A), who after considering the facts and circumstances and following the decision of Hon'ble co-ordinate Bench in the case of M/s Radhe Developers & Others ITA No.2482/Ahd/2006 allowed the deduction claimed u/s. 80IB(10) of the Act and confirmed the disallowance of Rs.29,218/- u/s. 40A(ia) of the Act, made on the ground of non-deduction of tax at source. 4. Against this order, Revenue cam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee had utilized FSI of 11775.08 sq.mtrs. and left unutilized FSI of 11801.46 sq.mtrs. and as the unutilized land was disposed of by the assessee along with the tenements to the prospective buyers, the profit booked from sale of 7375.91 sq.mtr was stated to be outside the ambit of provisions of section 80IB(10) as it was not the profit derived from activities of development and construction. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of ITAT, Ahmedabad Bench in the case of Radhe Developer (supra). 4. On consideration of the above submissions of the ld. DR and facts of the case, we are of the view that the issue is covered in favor of the assessee by the order of ITAT, Ahmedabad in the case of Radhe Developer (supra). We, therefore, do not find any infirmity in the order of the ld. CIT(A) . We confirm his findings and dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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