TMI Blog2012 (9) TMI 1085X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the correctness of the order of Ld. CIT(A)-29, Mumbai dt.19.7.2011 pertaining to assessment year 2008-09. 2. The sole grievance of the Revenue is that the Ld. CIT(A) has erred in directing to allow deduction u/s. 80IB(10) of the Act at ₹ 4,85,36,946/-. 3. Facts of the case are that the assessee constructed a housing project at Village Anik at Chembur under the SRA Scheme of Maharash ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fully considered the facts of the case, arguments of the AO and the written submissions of the Authorised Representative of the appellant. The exact issue was considered in the case of the appellant in the earlier year i.e. 2007-08 by this office in appeal No. CIT(A)-29/RG-17/IT-90/0910 dt. 24.3.2010. In this order it has been clearly held that the income derived by the appellant is eligible for d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4223/M/10 has confirmed the findings of the Ld. CIT(A) and dismissed the Revenue s appeal in A.Y. 2007-08 by holding as under: Thus we agree with the decision of the CIT(A) that (a) assessee is entitled to relief u/s. 80IB(10)(a)(b): (b) the assessee is entitled to relief u/s. 80IB(10) notwithstanding the fact that they conveyed the land to SRA prior to conveying the tenements developed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... brought on record by the Revenue, respectfully following the decision of the Tribunal in ITA No. 4223/M/10 (supra), we do not find any reason in tinkering with the findings of Ld. CIT(A). Accordingly, the appeal filed by the Revenue is dismissed. 8. In the result, the appeal filed by the Revenue is dismissed. Order pronounced on this 12th day of September, 2012 - - TaxTMI - TMITax - Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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