TMI Blog2023 (8) TMI 71X X X X Extracts X X X X X X X X Extracts X X X X ..... T(A) granted pro-rata deduction on eligible units even when the entire project have not been completed. Further, there is a clear recording of finding by the CIT(A) about 22 bungalows forming part of Bloomfield project which is a subject matter of this appeal were not completed by the stipulated date. Thus, the CIT(A) committed error in granting proportionate deduction even though the project has not been completed within stipulated time. Thus, the order of CIT(A) is not justified and it is set aside. Grounds raised by the Revenue are allowed. - ITA Nos. 602 & 603/PUN/2020 and 135/PUN/2019 - - - Dated:- 9-3-2023 - SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER For the Appellant :Shri Neelesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulated u/s. 80IB(10) of the Act. He argued that the assessee has got approval for construction on 30-03-2007 and required to complete the said project within five years in terms of clause (a)(iii) of sub-section (10) of section 80IB of the Act. He drew our attention to para 6.18 of the impugned order and argued that the CIT(A) committed fundamental error in granting pro-rata deduction on eligible units even if the entire project has not been completed. He vehemently argued that the CIT(A) clearly recorded that 22 bungalows were not completed by the stipulated date and only 9 buildings were completed which clearly shows that ineligibility of the assessee in getting deduction u/s. 80IB(10) of the Act. Further, he drew our attention to para 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndada in ITA No. 1762/PUN/2018 for A.Y. 2012-13 vide order dated 13-01-2013 and argued that this Tribunal in similar circumstances on identical facts allowed Revenue s appeal by holding that the assessee is not entitled to avail benefit u/s. 80IB(10) of the Act for non-satisfaction of conditions contemplated under Law for availing the same. He argued that the CIT(A) failed to look all these aspects and committed error in allowing proportionate deduction to the assessee. 9. The ld. AR submits that there are plethora of orders from this Tribunal in allowing the proportionate deduction u/s. 80IB(10) of the Act. He drew our attention to the partial completion certificate as furnished in the paper book vide Annexure 2 and argued that the tota ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Further, he drew our attention to para 7 of this Tribunal order in the case of Vijay Tukaram Raundal (supra) and argued that the facts in the said case are entirely different from the facts on hand. He submits that the Competent Authority issued Completion Certificate belatedly though the project was completed within the due date. He vehemently argued that the finding of the Tribunal in the said case is not at all applicable to the facts on hand. In reply, the ld. D.R submits that the Tribunal in the case of Vijay Tukaram Raundal (supra) held that the assessee is not entitled to claim deduction u/s 80IB(10) of the Act if the project is not completed within the stipulated time provided under the Statute. In order to come to such conclusion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llector, Pune. On perusal of assessment order at para 3.6, the AO noted that the partial completion certificate dated 11-11-2011 makes it clear the 22 bungalows part of Bloomfield project have not been completed before 30-01-2012 as mandated by section 80IB(10) of the Act. A reading of finding of AO in the said para at 3.6, partial completion certificate issued by the District Collector, Pune clearly shows that the assessee could not complete the entire project within stipulated time as contemplated under the provisions of section 80IB(10) of the Act. When, there is no satisfaction with regard to fulfillment of conditions as required u/s. 80IB(10) of the Act, the assessee is not entitled to claim deduction even on proportionate basis as hel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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