9911796707
TMI Blog2019 (6) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... spect of 9206.30 Sq.Mtr. against sanction of 11960.15 Sq. Mtr.?" 2. Respondent-assessee is a private limited company. Assessee had filed a return of income for the assessment year 2009-10 claiming deduction of income arising out of the development of a housing project in terms of Section 80IB(10) of the Income Tax Act, 1961. The Assessing Officer was of the opinion that the assessee had not fulfilled the essential requirements of completion of housing project before 31st March, 2009, which was the last date prescribed as per the statute. 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... & F, which were to be handed over to the landlord and were not the part of the housing project on which the appellant is not even claiming the deduction u/s 80IB(10). The Appellant constructed the above buildings A & B on 11,279.13 sq.mtrs. of piece of land which is a part of large housing project comprising of total built up area of 11,960.15 sq. mtrs. The portion of the appellant in this entire project was limited to two buildings only i.e. buildings A & B and these buildings were complete in all respect including grant of the occupation certificate during 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 be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 4. 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 landlord on account of further developments and dispute. This was the only remaining portion of the construction out of the originally sanctioned plan. The assessee had claimed deduction in re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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