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2016 (4) TMI 171 - MADRAS HIGH COURT

2016 (4) TMI 171 - MADRAS HIGH COURT - TMI - Denial of relief under Section 80IB - Held that:- As the owner of the land is concerned, the assessee actually acted as the developer. They had undertaken the following activities namely (i) engagement of architects (ii) preparation of building plans for approval (iii) coordinating with the Local Body for the grant of building plan approval (iv) identification of purchasers of flats and (v) entering into agreements of construction with them. All the a .....

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anation was inserted by Finance Act 2/2001 with effect from 1.4.2001.

But unfortunately for the Department, the above Explanation has no application to the case on hand. The assessee did not execute a housing project as a works contract for the owner of the land. The relationship that the assessee had with the purchasers of undivided shares has been misunderstood as the relationship that they had with the owner of the land. Therefore, the Tribunal was wrong in holding the appellant to .....

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ase, the Income Tax Appellate Tribunal is right in law in confirming the denial of relief under Section 80IB of the Act, when the appellant satisfies all parameters in this regard ? and (ii) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law in not following the rationale of the earlier orders of the Tribunal accepting the position that the appellant is a 'developer' in accordance with consistency?" 2. Heard Dr.Anita Sumanth, .....

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ssee claimed themselves to be developers and claimed relief under Section 80IB of the Act. This was accepted in respect of the assessment years 2007-08 and 2008-09. However, in respect of the assessment year 2009-10, the Assessing Officer took the view that the assessee is not a developer, but a contractor. The Commissioner (Appeals) confirmed the assessment order and the Tribunal also upheld the same, forcing the assessee to come up with the above appeal. 5. It is seen from paragraph 7 onwards .....

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the Local Body for all the activities (iv) that the assessee should market the proposed apartments to third parties by entering into necessary agreements and (v) that the assessee should put up a construction to the extent of about 5,85,000 sq.ft. 6. Pursuant to the said joint development agreement, the land owner applied for necessary permission from the Local Body and the building plan was approved on 3.5.2005. Thereafter, the deeds of conveyance of undivided shares in the land were executed b .....

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