TMI Blog2018 (7) TMI 1988X X X X Extracts X X X X X X X X Extracts X X X X ..... fact requires verification. The benefit of deduction u/s. 80IB(10) should not be denied to the assessee, if the assessee has applied to the PMC for issuance of completion/occupancy certificate before the due date i.e. 31- 03-2011. The issue is restored to the AO for the limited purpose to verify the date on which the assessee approached PMC for issuance of completion/occupancy certificate. The assessee is directed to furnish necessary relevant documents to AO indicating the date on which the assessee applied to PMC for issuance of completion/ occupancy certificate. AO after examining the documents and in the light of our above observations shall allow/reject deduction u/s. 80IB(10), as the case may be. - Appeal of Revenue is allowed for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee filed appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) vide impugned order allowed assessee‟s claim of deduction u/s. 80IB(10) of the Act. Now, the Revenue is in appeal against the order of Commissioner of Income Tax (Appeals). 3. Shri Mukesh Jha representing the Department submitted that the assessee has not furnished completion certificate till date, in respect of housing project Fortune East. There is no document from the competent authority on record which would indicate that the housing project in respect of which deduction has been claimed is complete and is habitable. The ld. DR prayed for setting aside the impugned order and restoring the findings of Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner of Income Tax Vs. Tarnetar Corporation, 362 ITR 174 (Guj). 5. We have heard the submissions made by representatives of rival sides and have perused the orders of authorities below. The deduction u/s. 80IB(10) of the Act has been disallowed to the assessee by the Assessing Officer on the ground that the assessee has failed to furnish completion certificate from the local authority i.e. PMC. It is an undisputed fact that the assessee received first approval of the building plan on 17-05-2005. As per the provisions of the Act the assessee should have completed housing project on or before 31-03-2011. The Assessing Officer made independent enquiries from the office of PMC and it transpired that the assessee has not made an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirming completion of project as per sanctioned plan on 16- 02-2011. However, it is not emanating from records as to when the assessee applied to the local authority i.e. PMC for issuance of occupancy certificate. The ld. AR for assessee has pointed that the PMC has approved the issuance of completion certificate but has withheld the formal issuance of certificate for some compliance. This fact requires verification. We are of considered view that the benefit of deduction u/s. 80IB(10) should not be denied to the assessee, if the assessee has applied to the PMC for issuance of completion/occupancy certificate before the due date i.e. 31- 03-2011. The issue is restored to the Assessing Officer for the limited purpose to verify the date o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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