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TMI Blog2014 (2) TMI 468X X X X Extracts X X X X X X X X Extracts X X X X ..... pending the appeal - the observations are prima facie and the appeal shall be decided independently – thus, in addition to disallowing deduction u/s 80IB(10) of the Act – Decided in favour of Assessee. - Special Civil Application No. 17523 of 2013 - - - Dated:- 29-1-2014 - Akil Kureshi And Sonia Gokani,JJ. For the Appellant : Mr Manish J Shah, Adv. For the Respondent : Mr Km Parikh, Adv. JUDGMENT (Per : Honourable Mr. Justice Akil Kureshi) 1. Rule. Learned counsel Shri K.M. Parikh for the respondents waives service of Rule. 2. Considering the controversy involved, the petition is taken up for final hearing immediately. 3. The petitioner is a partnership firm and is engaged in the business of housing development. For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e issue is squarely covered by the decision of this Court in the case of Radhe Developers (supra). The Assessing Officer committed serious error in not allowing the claim of the petitioner for deduction under section 80IB(10) of the Act. Putting the petitioner to condition of depositing 50% of the tax demand would cause undue hardship. 6. We also heard the learned counsel for the Revenue, who opposed the petition. 7. From the record, it clearly emerges that the case of the petitioner for deduction under section 80IB(10) of the Act was based entirely on the ratio of the decision of this Court in the case of Radhe Developers (supra). The Assessing Officer also did not raise any of the objections, except for recording that granting deducti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Developers (supra), gross inconvenience would be caused to the petitioner if pending the appeal, the petitioner is required to deposit 50% of the tax demand. 9. Under the circumstances, the communication dated October 30, 2013 of the Commissioner (Appeals) is quashed. There shall be complete stay of the tax demand against the petitioner pending the appeal. It may be clarified that our observations are prima facie and the appeal shall be decided independently. 10. We notice that in addition to disallowing deduction under section 80IB(10) of the Act, there is also disallowance of interest by the Assessing Officer. However, such disallowance represent a very small portion of the total disallowances. Hence, this order. The petition stand ..... X X X X Extracts X X X X X X X X Extracts X X X X
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