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TMI Blog2023 (7) TMI 1165X X X X Extracts X X X X X X X X Extracts X X X X ..... 153a of the I.T. Act, 1961." b) "Whether on the facts and in the circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal was justified in directing the Assessing Officer to allow the claim of deduction u/s. 80IB(1) made by the assesse on pro rata basis without appreciating the fact that the provisions of Section 80IB(10) clearly mandate that the assessee can be either eligible or not eligible for claiming deduction.?" 2. As stated in the Assessment Order dated 29th October 2010 during the year under consideration, i.e., Assessment Year 2008-09, Assessee developed a project named 'Harsh Vihar Project' at Mira Road ("the Project"). The Return of Income ("ROI")was accompanied with Audited Balance Sheet and Profit & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t was filed by Assessee. The impugned order dated 11th May 2017 came to be passed in the Appeal that Assessee filed before the Income Tax Appellate Tribunal("ITAT"). The Admitted fact is that it was Assessee which has developed the project and it is the income from that project which is offered for tax and Assessee is claiming deduction under Section 80IB(10). The ITAT in our view has rightly come to conclusion that Section 80IB(10) of the Act provides that certain conditions are to be fulfilled in order to claim benefit under the Section in respect of an eligible project and it has nothing to do with in whose name the Applications are. The conditions prescribed under Section 80IB(10) provide as follows :- a. The housing project should b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Gug) where the Assessing Officer had disallowed the claim mainly on the ground that Assessee was not the owner of the land and the approval of the project was not in the name of Assessee. Court held that the Assessee had undertaken a development of the project at its own risk and cost and therefore, the Assessee was entitled to the deduction as claimed. The Court also held that just because the land was in the name of the original owner when the housing development project was executed would not be detrimental to Assessee's claim of deduction under Section 80IB(10) of the Act. Therefore, in our view the section does not prescribe anywhere that the commencement certificate should be in the name of Assessee. What is required to be seen is w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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