TMI Blog2021 (5) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... nce with the original plan and had sold six individual units each measuring below 1500 sq.ft. and each of the sale deed did not fall within the prohibition contained under Section 80- IB(10)(f) ? - HELD THAT:- For the reasons assigned by this Court in the judgment M/s. S.N. Builders and Developers [ 2021 (1) TMI 789 - KARNATAKA HIGH COURT] and taking into consideration the fact that the entire cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act' for short) has been filed by the assessee against the judgment dated 04.04.2017 passed by the Income Tax Appellate Tribunal. 2. The subject matter of the appeal pertains to the assessment year 2011-12. The appeal was admitted by a Bench of this Court vide order dated 23.11.2018 on the following substantia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chartered Accountants in accordance with Section 145 of the Act. The assessee filed return of income on 30.09.2011 for the assessment year 2011-12 and declared the total income of ₹ 6,93,890/-. The assessee claimed a deduction of ₹ 10,29,94,124/- as exemption under Section 80-IB(10) of the Act by declaring the flats sold during the year in accordance with the Percentage Completion Met ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 07.01.2021 (CIT vs. M/s. S.N. Builders and Developers ). 5. Learned counsel for the revenue was unable to dispute the aforesaid submissions. 6. We have considered the submissions made on both sides. 7. For the reasons assigned by this Court in the judgment dated 07.01.2021 in ITA.No.393/2014 and taking into consideration the fact that the entire claim of the assessee has been disall ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
