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TMI Blog2014 (6) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... ing total income of Rs. Nil after claiming the entire profit of Rs. 83,48,670/- as deduction under section 80IB(10) of the Act. The case was selected for scrutiny and thereafter the assessment was framed under section 143(3) vide order dated 31.12.2009 and the total income was determined at Rs. 83,48,670 after disallowing the claim of deduction u/s. 80IB(10). Aggrieved by the order of A.O, Assessee carried the matter before CIT(A). CIT(A) vide order dated 11.01.2011 allowed the appeal of the Assessee. Aggrieved by the order of CIT(A), the Revenue is now in appeal before us and has raised the following effective ground:- 1. On the facts and in the circumstances of the case and in law, the ld CIT(A), Surat has erred in deleting the addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y denied the claim of deduction under 80IB(10) of the Act. Aggrieved by the order of A.O, Assessee carried the mater before CIT(A). CIT(A) vide order dated 11.01.2012 allowed the appeal of the Assessee by holding as under:- 2.1. During the course of appeal proceedings, it was submitted by the appellant's A.R. that they rely on their written submissions filed in respect of appeal proceedings for immediately preceding year. It was submitted that the issue relating to disallowance of deduction u/s. 80IB(10) had arisen in respect of the same project in the immediately preceding year and the issue was decided in favour of the appellant vide appeal order dated 11.05.2009. It was submitted that the decision in the case of the appellant himsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e heard the submissions of both the sides. The main reason for rejecting the claim of deduction u/s.80-IB(10) of the I.T.Act was that the assessee has not owned the land on which the said Housing Project was developed. The Assessing Officer has also ignored the decisions of the Tribunal cited, namely, Radhe Developers 113 TTJ 300 (Ahd.). But as far as the facts of the case are concerned, there was no contradictory finding of the Assessing Officer that the assessee has actually developed the residential complex. The Assessing Officer has not disputed the terms and conditions under which the assessee has developed the project in question. On the other hand, from the side of the assessee, ample evidences were placed on record to demonstrate th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the domain over the land and has developed the Housing Project by incurring all the expenses and taking all the risk involved, then entitled for the claim of deduction u/s.80-IB(10) of the I.T.Act. Once the Hon'ble Jurisdictional High Court has approved the view already taken by the Respected Coordinate Bench in the case of Radhe Developers, therefore in our considered opinion, on the facts and circumstances of the case the issue of claim of deduction u/s.80-IB(10) of the I.T.Act stood covered and to be decided in favour of the assessee. In the result, we hereby confirm the legal as also factual findings of the ld. CIT(A) and dismiss the ground of the Revenue. 7. The ld. A.R. further submitted that against the order of Hon'ble Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X
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