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TMI Blog2014 (6) TMI 667X X X X Extracts X X X X X X X X Extracts X X X X ..... s entitled to claim the benefit under section 80IB(10) of the Act – there was no infirmity in the order of the CIT(A) – Decided against Revenue. - ITA No. 105/Mum/2012, CO No. 254/Mum/2012 - - - Dated:- 9-6-2014 - Shri D. Manmohan And Shri N. K. Billaiya,JJ. For the Appellant : Shri R. K. Sahu For the Respondent : Shri Suresh N. Otwani ORDER Per D. Manmohan, V.P. These cross appeals are directed against the order passed by the CIT(A)-II, Thane and it pertains to A.Y. 2008-09. 2. Following grounds were urged by the Revenue: - 1. On the facts and circumstances of the case and in law, the CIT(A) erred in holding that the assessee is entitled for deduction u/s. 80IB(10), relying on the decision in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 80IB of the Act. This deduction has been claimed against Shree Ganesh Plaza-II. The AO observed that such claim was not accepted in the previous years in view of the fact that built up area of shops and other commercial establishments exceeded 5% of the aggregate built up area or by 2000 sq.ft. Though it was admitted that the issue was disposed of by the CIT(A) and an appeal is pending before the Tribunal, in order to keep the matter alive the AO followed the same pattern and disallowed the claim of deduction under section 80IB of the Act. 4. Aggrieved, assessee contended before the CIT(A) that Shree Ganesh Plaza-II was approved by the local authority, i.e. CIDCO as Residentialcum- Housing Project vide approval dated 01.12.2003 compri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under section 80IB(10) on the commercial component of Shree Ganesh Plaza-II. In short, the appeal filed by the assessee was allowed though there was some reference to the fact that the commercial area of construction exceeds the limit of 2000 sq.ft. 5. Aggrieved by the order passed by the CIT(A), Revenue preferred an appeal wherein it was contended that the assessee is not entitled for deduction under section 80IB(10) since the total area of the shops is 11,854 sq.ft., which exceeds the prescribed limit of 5% of the total built up area or 2000 sq.ft. whichever is less as amended by Finance (No. 2) Act, 2004. In other words, the case of the Revenue is that the provisions as substituted by the Finance (No. 2) Act, 2004 is applicable re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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