2023 (10) TMI 852 - SCH - Income Tax

Deduction u/s 80IB - some of the flats constructed in Tower A of its housing project had exceeded the area of 1000 sq.ft. - structural changes noticed in the building as on the date of survey - as decided by HC 2022 (11) TMI 1303 - BOMBAY HIGH COURT conclusions drawn by the CIT (Appeals) based on the material on record goes to show that the view expressed and subsequently upheld by the Tribunal cannot be in any way said to be a view or a conclusion which is perverse. The question essentially involved in the case, which had to be established beyond any doubt by the Revenue, ought to have been that the respondent had not only built but also sold the residential units, in respect of which the benefit of 100% deduction was claimed with an area of more than 1000 sq.ft., which only then could have justified the action of the Revenue in denying the benefit of 100% deduction under the said provision, but in the present case, however, the revenue has failed to establish that fact. HELD THAT - SLP dismissed.

Summary

The Supreme Court dismissed the special leave petition and declined to interfere with the impugned judgment and order. Delay was condoned. Pending applications were disposed of.