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TMI Blog2012 (4) TMI 462X X X X Extracts X X X X X X X X Extracts X X X X ..... nt year 2005-06 onwards - Held that: it was communicated to the assessee on 4.4.2005 and in law he should have 2 years time to complete the construction, the said communication and the sanctioned letter made it clear the time for completing the construction starts from 4,4,2005 and it ends on 3.4.2007 - As per the judgment of the Bombay High Court, once approval is granted it dates back to the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der, as the Tribunal has also disposed of these appeals by a common order. 3. The assessee-company undertook a project with regard to construction of residential flats situated at Sy. Nos. 85 and 86, Vijinapura Village, K.R. Puram Hobli, Bangalore consisting of 144 residential units ranging from 1,102 sf. ft. to 1.415 sq, ft. The profit earned by the assessee has been claimed as exemption unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he benefit of Section 80-IB(10) of the Act to the assessee. 4. Aggrieved by the said order, the assessee preferred an appeal to the Commissioner of Income Tax Appeals). The Appellate Commissioner held the date of approval is 28.3.2005. The said approval was communicated to the assessee on 4.4,2005. The assessing authority is not disputing the fact that the assessee made an application on 8.10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dispute that the approval is granted on 28,3,2005, It is communicated on 4.4.2005, Because it was communicated to the assessee on 4.4.2005 and in law he should have 2 years time to complete the construction, the said communication and the sanctioned letter made it clear the time for completing the construction starts from 4,4,2005 and it ends on 3.4.2007 That is not the date of approval. The date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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