2015 (7) TMI 88 - HC - Income Tax

Appeal is ADMITTED on the following substantial questions of law- I) Whether on the facts and in the circumstances of the case and in law, the ITAT failed to consider the fact that the area of the plot for Vidhi Complex is below 1 acre and as such the primary condition for claim of deduction under Section 801B(10) of the Income Tax Act, 1961 has not been fulfilled? (II) Whether on the facts and in the circumstances of the case and in law, the Hon ble ITAT erred in coming to a conclusion that the exclusion of DP Road does not reduce the size of the plot, while on the contrary accepting the fact that the plot in question was originally a larger plot which was trifurcated with passing of two DP roads and thus, treating one of the 3 plots i.e. the plot in question being an independent plot with net area of 3461.68 sq.mtrs.?

Summary

The Bombay High Court admitted an appeal regarding a tax deduction claim under Section 80IB(10) of the Income Tax Act, 1961. The appeal raised questions about the size of the plot for Vidhi Complex and the impact of excluding DP Road on the plot size. The Respondent waived service and the case was to be heard along with Income Tax Appeal No.200/2012.