9911796707
TMI Blog2014 (8) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... proved by the concerned authorities, the built up area of each flat is less than 1000 sq.ft. the deduction u/s 80IB(10) of the Act cannot be denied to the Assessee on the ground that two flats as per approved plan lying adjacent to each other have been combined into one flat and owned by one owner or jointly with some of the members of his family - the rejection of the claim of the assessee for deduction u/s 80 IB(10) on this account cannot be sustained – Decided against Revenue. - ITA No. 2741/Mum/2013 - - - Dated:- 18-7-2014 - Shri Vijay Pal Rao And Shri D. Karunakara Rao,JJ. For the Petitioner : Ms. Vinita Shah For the Respondent : Shri Shrikant Namdeo ORDER Per Vijay Pal Rao, Judicial Member: This appeal by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide order dated 05/05/2012 in ITA No.7147 48/Mum/2010 in para-5 to 7 as under:- 5. We have heard the rival submissions. As far as approval of the Slum Rehabilitation Authority is concerned we find that CBDT has issued a notification dated 3/8/10, whereby it is now notified that any scheme approved under Regulation 33(10) of DCR for Greater Mumbai 1991, and by the SRE for Slum Rehabilitation would be valid for the purpose of Clause- a and b of section 80 IB (10) of the Act. We are of the view that it would be appropriate to set aside the order of the CIT(A) on this issue and restore the same to the AO for consideration of the issue afresh in the light of the notification issued by the CBDT. 6. As far as the individual flats exceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lans and is capable of being used for residential purposes on stand alone basis, deduction under section 80-IB(10) cannot be declined in respect of the same merely because the end user, by buying more than one such unit in the name of family members, has merged these residential units into a larger residential unit of a size which is in excess of specified size. It is useful to take note of legislative amendment by virtue of which the legislature put certain restrictions on sale of residential units to certain family members of a person who has been sold a residential unit in the housing project. Section 80-IB(10) now provides an additional eligibility condition that in a case where a residential unit in the housing project is allotted to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew of aforesaid discussion, the deduction under section 80-lB(10) was to be allowed to the assessee entirely. [Para 9) 7. In the present case admittedly the amended provisions of law will not apply and, therefore, so long as per the plans approved by the concerned authorities, the built up area of each flat is less than 1000 sq.ft. the deduction under section 80IB(10) of the Act cannot be denied to the Assessee on the ground that two flats as per approved plan lying adjacent to each other have been combined into one flat and owned by one owner or jointly with some of the members of his family. In this regard we also find from the approved plan copy of which is at Page 66 of the Paper Book that as per the approval the built up area of e ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
