TMI Blog2020 (5) TMI 138X X X X Extracts X X X X X X X X Extracts X X X X ..... society have not filed the returns of income, thereby held that the assessee has relinquished the claim for deduction u/s 80IAB which was disallowed by the AO. Since the income of the society was taxed separately as rightly observed by the Ld.CIT(A), individual members of the society are not liable to be tax the same income. Taxing the income again in the hands of the assessee would amount double taxation of the same income which is not permissible. Since, the claim of deduction u/s 80IAB has reached finality in the hands of the society, we hold that both the lower authorities have erred in taxing the share income received by the assessee, accordingly, we set aside the order of the Ld.CIT(A) and delete the addition made by the AO and al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee as to why the same should not be disallowed and added back to the income. The assessee filed explanation stating that the assessee along with 79 other members were owners of the land admeasuring 25.68 cents forming part of survey nos. 30, 34, 35 and 38 situated at Gachibouwli Village, Serilingampally, Ranga Reddy District and executed a Development Agreement cum Power of Attorney in favour of project developer named L T Phonix Info Parks Private Ltd. Pursuant to the development agreements, the developer in the name of Hi-Tech City-2 acquired sanction for setting up of a SEZ for sector specific Information technology and information technology enabled services (IT / ITES SEZ) from the Govt. of India, Ministry of Commerce and Indust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tent of whether the share income received by the assessee as member of the society is required to be taxed separately or not. The AO viewed that the assessee has claimed deduction u/s 80IAB incorrectly, hence, disallowed the same. On appeal before the CIT(A), the Ld.CIT(A) in para No.5.2 observed that the income required to be assessed in the hands of the Society, but not in the hands of individual members of the Society. However, the Ld.CIT(A) observed that the society as well as the assessee have not filed the returns of income, hence viewed that both of them have relinquished the claim of deduction u/s 80IAB, thus, viewed that the individual also is not allowed to claim deduction u/s 80IAB as the relief was not given to the society, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the income should be taxed in the hands of the society only but not in the hands of individual members. However, the Ld.CIT(A) confirmed the addition, because of the reason that the assessee as well as the society have not filed the returns of income, thereby held that the assessee has relinquished the claim for deduction u/s 80IAB which was disallowed by the AO. For the sake of clarity and convenience, we extract para No.5.2 of the order of the Ld.CIT(A) which reads as under : 5.2. Respectfully following the reasoning given by the Hon ble ITAT for A.Y.2013-14, I am of the view that in this assessment year also the income should be assessed in the hands of the Avinash Hi-tech City-2 Society only and individual members of the soci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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