TMI Blog2021 (10) TMI 417X X X X Extracts X X X X X X X X Extracts X X X X ..... herefore, it is in conformity with the decision of DEVASHRI NIRMAN LLP., DEVASHRI NIRMAN LTD. [ 2020 (12) TMI 59 - BOMBAY HIGH COURT] wherein such proportionate deduction u/s.80IB(10) of the Act would be allowed to those units which are having built up area less than or equal to 1500 square feet. It is also the settled position of law that principle of proportionality shall not be excluded while determining allowability of deduction u/s.80IB (10) (c) of the Act. - Decided against revenue. - ITA Nos. 2938 & 2939/PUN/2017 - - - Dated:- 7-10-2021 - Shri R.S.Syal, VP And Shri Partha Sarathi Chaudhury, JM For the Revenue : Shri A.M Mahadevan Krishna For the Assessee : Shri Neelesh Khandelwal ORDER PER BENCH : These ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtionate deduction as claimed under the said provisions. The Ld. CIT(Appeal) has given the following findings in this regard : 23. However, just because built up area is more than 1500 sq. ft. in respect of some of the units, deduction u/s.80IB(10) of the Income Tax Act, 1961 cannot be disallowed in respect of the entire project and the appellant will be entitled to proportionate deduction, as claimed, as per following decisions : (i) M/s. Rohan Homes Vs. ACIT [423/PN/11] (ii) Ankit Enterpries [ ITA No.156 172/PN/11] (iii) Sanghvi Doshi Enterprises [139 ITD 151 ( Chennai), TM] (iv) Bengal Housing Development Ltd. Vs. DCIT in ITA No.595/Kol/2005 24. Accordingly, the AO is directed to work out the deduction u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... However, therefore, the Assessing Officer was directed to allow proportionate deduction u/s.80IB (10) of the Act in respect of Sapphire Park project after excluding the units where built up area exceeds 1500 square feet on account of terrace garden. Therefore, it is in conformity with the decision of the Hon ble Jurisdictional High Court (supra.) wherein such proportionate deduction u/s.80IB(10) of the Act would be allowed to those units which are having built up area less than or equal to 1500 square feet. It is also the settled position of law that principle of proportionality shall not be excluded while determining allowability of deduction u/s.80IB (10) (c) of the Act. 8. Therefore, we are of the considered view that there is no ne ..... X X X X Extracts X X X X X X X X Extracts X X X X
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