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2019 (6) TMI 712

T:- Record of the case would show that CIT (Appeals) and Tribunal concurrently came to the conclusion that the assessee had proposed the housing project comparison of buildings A,B,C,D,E and F. Out of a total area of 11960.15 sq. meters to be constructed as per the building construction permission, the assessee had completed construction of 11,592.43 sq.meters. Necessary completion certificates from the local authority were also issued from time to time and last such certificate was issued on 1st December, 2008. Thus, the construction was completed and duly certified by the local authority before 31st March, 2009. The record further shows that the buildings E and F were not to be constructed and the land was to be handed over to the landlor .....

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He therefore disallowed the claim. CIT (Appeals) in detailed consideration held that the assessee had complied all the necessary conditions including completion of the housing project before the due date. Following portion of the order of the CIT(Appeals) may be noted:- The housing project of the appellant company Dhaval Hills comprised of buildings A,B,C,D,E & F. The buildings C,D,E & F were to be handed over to the land owners and the buildings C & D were handed over to the landlords in the year 2006 and the buildings E & F remained to be handed over. The other two buildings A & B were the housing project of the appellant company on which it has claimed deduction u/ s. 80IB(10). From the details filed, it can be obser .....

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the period under consideration. 4.5. It is an admitted fact that the buildings on which the appellant has claimed deduction u/s 80IB(10) are fully complete by the appellant company before the due date stipulated by the provisions of section 80IB(10) and last occupation certificate granted by the local authority in respect of these buildings on 01/12/2008 as mentioned in the chart above. The objection of the AO is that since the appellant has not completed buildings E & F, meant to be handed over to the landlords and are part of the same project, so it does not constitute the completion of the housing project. 4.6 In my opinion, the AO has not appreciated the facts of the case in right perspective. The buildings of the housing project be .....

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