9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 644 - AT - Income TaxDeduction u/s 80IB(10) denied - plea of assessee was that it had plot area of 4074 sq.mtrs., out of which road acquisition area was reserved of 513.80 sq.mtrs. and on the remaining area of 3560.20 sq.mtrs. the housing project was built - Held that - Where the assessee had purchased land admeasuring 4074 sq.mtrs. vide registered Development Agreement dated 31.08.2004 and where also the sanctioned building plan mentioned the plot area of 4074 sq.mtrs., out of which deduction of road acquisition by PMC was 513.80 sq.mtrs., fulfills the basic condition of section 80IB(10) of developing the housing project on minimum area of one acre. It was held that road acquisition area which was left out was part of housing project. The said proposition has also been applied by the Tribunal in assessee s own case in assessment year 2009-10 2013 (10) TMI 1514 - ITAT PUNE . The case of assessee is thus, squarely covered by earlier orders of Tribunal. Accordingly, we find no merit in the grounds of appeal raised by Revenue and the same are dismissed. - Decided against revenue.
Issues Involved:
Claim of deduction under section 80IB(10) of the Income-tax Act, 1961 based on the area of the plot for a housing project. Analysis: The appeal filed by the Revenue challenged the order of CIT(A)-6, Pune, regarding the assessment year 2011-12 under section 143(3) of the Income-tax Act, 1961. The main issue raised by the Revenue was whether the road acquisition area should be considered as part of the plot area for calculating the minimum one acre required for claiming deduction under section 80IB(10) of the Act. The Tribunal noted that the assessee had a plot area of 4074 sq.mtrs, out of which a portion was reserved for road acquisition. The Tribunal referenced previous orders related to the same assessee for assessment years 2008-09 and 2009-10, where it was established that the road acquisition area was indeed part of the housing project area. The Tribunal concluded that the road acquisition area should be included in the calculation of the plot area for claiming the deduction under section 80IB(10) of the Act. As the case was already covered by previous Tribunal orders, the appeal of the Revenue was dismissed. The Tribunal emphasized that the road acquisition area, even though initially excluded, was an integral part of the housing project area. It was noted that the sanctioned building plan specified the entire plot area, including the area reserved for road acquisition. The Tribunal highlighted that the basic condition of developing the housing project on a minimum area of one acre was met by considering the road acquisition area as part of the plot area. The Tribunal referred to previous decisions in the assessee's case for assessment years 2008-09 and 2009-10, where similar conclusions were reached. Therefore, it was established that the road acquisition area should be factored into the calculation of the plot area for claiming the deduction under section 80IB(10) of the Act. In conclusion, the Tribunal dismissed the appeal of the Revenue, as the issue regarding the inclusion of road acquisition area in the plot area for claiming deduction under section 80IB(10) had already been settled in previous Tribunal orders related to the same assessee. The Tribunal reiterated that the road acquisition area formed an essential part of the housing project area and fulfilled the statutory requirement of a minimum one-acre plot for claiming the deduction. The decision was based on a consistent interpretation of the relevant provisions and previous judicial precedents in the assessee's favor.
|
