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2015 (4) TMI 1243 - HC - Income TaxProportionate deduction u/s 80IB(1) - existence of any provision for pro rata deduction in the statute - some of the flats violated the condition of not exceeding area of 1000 sq. ft. and thus vitiating the whole project - Held that - The Registrar (Judicial)/Registrar, High Court, Original Side, Bombay to ensure that the original record in relation to this Appeal is summoned from the Tribunal and offered for inspection of the parties. This paper book is treated sufficient for the purpose of admission of this Appeal. However, the Registry must further ensure preparation of complete paper book in accordance with the Rules. The Registry in the first instance must send intimation of admission of this Appeal enclosing therewith a copy of this order so as to enable the Tribunal to act accordingly.
Issues:
Admission of appeals based on substantial question of law regarding deduction under section 80IB(1) in income tax appeal. Analysis: The High Court of Bombay, comprising S.C. Dharmadhikari and A.K. Menon, JJ., considered the order dated 20th March, 2013, in Income Tax Appeal No.43 of 2012, which admitted a similar question of law. The court, following the same and deeming the question of law to be substantial, proceeded to admit the appeals based on the question: "Whether the Tribunal was justified in allowing the proportionate deduction u/s 80IB(1) in absence of any provision for pro rata deduction in the statute and despite some flats violating the condition of not exceeding 1000 sq. ft., thereby affecting the entire project." The court directed the Registrar, High Court, Original Side, Bombay to ensure the original record related to the appeal is summoned from the Tribunal for inspection by the parties. The paper book provided was deemed sufficient for admission, with further instructions for the Registry to prepare a complete paper book as per rules. Additionally, the court ordered that the appeal be heard alongside Income Tax Appeal No.43 of 2012, with Mr. Kharawalla waiving service on behalf of the respondent-assessee.
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