TMI Blog2022 (9) TMI 342X X X X Extracts X X X X X X X X Extracts X X X X ..... e constructed area of some residential units exceeded the specified built up area of 1500 sq. ft, then, deduction claimed could not be denied in respect of the entire housing project. We, thus, in terms of our aforesaid observations finding no infirmity in the view taken by CIT(Appeals) who had rightly directed the A.O to restrict the disallowance of the assessee s claim for deduction u/s 80IB(10) proportionately in respect of allotment of sales transactions which do not comply with the conditions of section 80IB(10) and, allow the remaining deduction as claimed by the assessee, thus, uphold the same. Thus, the grounds of appeal raised by the department are dismissed in terms of our aforesaid observations. Appeal of the department is dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 80IB(10)(e) and Section 80IB(10)(f) of the Act, in the process of ongoing sale of several flats in this housing project by the assessee, which is developing and building housing projects as agoing concern over the years? 4. Whether on points of law and facts circumstances of the case, the Hon'ble ITAT was justified in giving a finding which is contrary to the legal provisions of the Act, as the Hon'ble ITAT has held that the claim of the assessee u/s 8oIB of the Act cannot be dismissed in its entirety and proportionate disallowance is justified, more so in the light of the fact on record aligned with the legal provisions of the Act that the entire project becomes ineligible for exemption u/s 80IB(10) of the Act as th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder passed in Appeal No.35 36/14-15/2015-16, dated 17.02.2016, the AO disallowed the assessee s claim of deduction under Sec. 80IB(10) of Rs. 7,09,83,027/-. 5. Aggrieved, the assessee carried the matter in appeal before the CIT(Appeals), who after relying on the order of the ITAT, Raipur in the assessee s own case for the preceding years i.e in ITA No.154/RPR/2013 for the assessment year 2010-11 and in ITA Nos. 43 44/RPR/2016 for the assessment years 2011-12 2012-13 granted partial relief to the assessee by observing as under: I have considered the grounds of appeal and the written submissions made by the Id. Counsel appearing on behalf of the appellant. The appellant brought to my notice the order of the hon'ble Raipur Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditions prescribed under clause (a) to (f) of Section 80IB(10) have been violated by the assessee, therefore, the entire project of the assessee was rendered as ineligible for deduction contemplated u/s.80IB(10) of the Act. It was further submitted by him that the findings given by the Tribunal in earlier years were contrary to the ratio laid down by the Hon ble Apex Court in the case of Novopan India Ltd. Vs. CCE, Civil Appeal No.3556 of 1984. 8. Per Contra, the Ld. Authorized Representative ( for short AR) for the assessee submitted that the issue raised in the present appeal by the department was squarely covered by the decision of the Hon ble High Court of Chhattisgarh in the assessee s own case in Tax Case No.106-107,112 of 2017, d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls are dismissed as withdrawn. Further, we find that the Hon ble Supreme Court in the case of Commissioner of Income Tax V. Shreenath Buildcon (2019) 267 taxman 115 (SC), had held, that where the constructed area of some residential units exceeded the specified built up area of 1500 sq. ft, then, deduction claimed could not be denied in respect of the entire housing project. 11. We, thus, in terms of our aforesaid observations finding no infirmity in the view taken by the CIT(Appeals) who had rightly directed the A.O to restrict the disallowance of the assessee s claim for deduction under Sec. 80IB(10) proportionately in respect of allotment of sales transactions which do not comply with the conditions of section 80IB(10) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
