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TMI Blog2013 (10) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... letion, in which event, one cannot read into the provision as a condition, which is not specifically provided. In the present case the approval by the Hyderabad Urban Development Authority has been obtained on 26.06.2004 only for which the relevant assessment year is 2005-2006 and hence the decision in the case of Jain Housing & Constructions Ltd. (supra) goes against the assessee – Decided against Assessee. - I.T.A. No. 850/Hyd/2010 - - - Dated:- 25-9-2013 - Shri Chandra Poojari And Smt. Asha Vijayaraghavan,JJ. For the Appellant : Shri A. V. Raghuram (AR) For the Respondent : Shri Amalal Tripathi ORDER Per Smt. Asha Vijayaraghavan, J.M. This appeal filed by the assessee is directed against the Order of the CIT(A)-I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al". Even if a proposal was submitted earlier, the same was rejected and it was for the first time on 26.06.2004 that the first approval was given by the competent authority. The Assessing Officer held that the completion certificate could have been obtained on or before 31.03.2009 and since the assessee filed its return of income for the assessment year 2006-2007 on 29.11.2006 itself, it is clear that such completion certificate could not have been filed along with the return of income. It was also not possible for the assessee to furnish such certificate even during the assessment proceedings which were completed on 22.12.2008 as the assessee had time till 31.03.2009 to obtain the completion certificate. 4. The learned A.R. contended be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ructural consultant and the licensed architects dt.15.9.2008 mention that the project had been completed ( 15.09.2008, and further even that the Zonal Commissioner, GHMC himself in his letter dt. 23.3.2009, mentions that the apartments flats were completed and related property tax assessment had also been done and further that the completion certificate could be issued only after BPS Regularization Scheme Writ petition is disposed of the Hon'ble High Court of AP, it remains a fact that the appellant is not in possession of any "completion / occupancy certificate" from the municipal authorities certifying completion of the project before 31.3.2009. The learned Commissioner further held that the Explanation (ii) to the provisions of Sec. 80IB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... flats, the CIT(A) held that it is clear that the same cannot be equated with the "completion certificate" contemplated under the Act and further held that even the notice issued by the appellant or the certificates issued by the municipal approved structural engineer or the licensed architects cannot be a substitute for 'completion certificate' contemplated under the Act. Hence, the CIT(A) concluded that in the absence of any completion certificate showing completion of the project before 31.03.2009, the appellant is not entitled for the claim of deduction u/s. 80IB (10). The learned CIT(A) accordingly upheld the denial of claim of Rs.54,65,550/-. 7. Aggrieved, the assessee is in appeal before us and relied on the decision of the Madras H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income Tax Act was brought in under Finance No.(2) Act of 2004, effective from 01.04.2005. Thus, in the absence of any such requirement read into the Section, we find it difficult to accept the case of the Revenue that the claim for deduction has to be rejected on the ground that the assessee had not furnished the completion certificate". 10. The case of Jain Housing Constructions Ltd. (supra) is related to assessment year 2004-2005 and therefore, it was held that as far as the present case is concerned, it relates to the assessment year 2004-05. The substitution of Explanation to clause (a) to sub-section (10) of Section 801B of the Income Tax Act was brought in under Finance No.(2) Act of 2004, effective from 01.04.2005. 11. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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