2009 (11) TMI 944 - AT - Income Tax

Summary

Issues involved: Appeal against disallowance of deduction u/s 80IB for a project classified as commercial cum housing.

Summary:

Issue 1: Deduction u/s 80IB eligibility for commercial cum housing project

The appeal was filed by the Assessee against the disallowance of deduction u/s 80IB for a project classified as commercial cum housing. The Learned Commissioner of Income Tax(Appeals) disallowed the claim on the grounds that the project did not qualify as a housing project. The Assessee referred to a Special Bench decision which allowed deduction for residential units in such projects. The issue was set aside for fresh adjudication by the Assessing Officer in line with the Special Bench decision. The Tribunal ordered the issue to be restored to the Assessing Officer for reevaluation, providing the Assessee with a reasonable opportunity of hearing.

In conclusion, the appeal of the Assessee was allowed for statistical purposes.

Order signed, dated, and pronounced in the Court on 30/11/2009.