9911796707
TMI Blog2014 (11) TMI 610X X X X Extracts X X X X X X X X Extracts X X X X ..... OURT] - for the purpose of considering the deduction, it is not necessary that the assessee, engaged in developing and construction of housing project, should be the owner of the property - when the local authority, being part of Chennai Metropolitan Development Authority and also the approving authority, thus having certified about the completion, there was no justifiable ground to invoke Explana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : 1. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee is entitled for deduction under Section 80IB when the assessee is not the owner of the property and had executed a contract with the purchasers of undivided share in the land to construct the building? 2. Whether on the facts and in the circumstances of the case, the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The issues involved in this Tax Case (Appeals) that whether the assessee is entitled for deduction under Section 80IB(10) of the Income Tax Act have already been decided by this Court in T.C.(A)Nos.581 582 of 2011 and 314 315 of 2012 dated 01.11.2012 in favour of the assessee and against the Revenue holding that for the purpose of considering the deduction, it is not necessary that the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s entitled to deduction in respect of the built up area exceeding 1500 sq.ft. on a proportionate basis. Accordingly, all the questions have been dealt with by this Court in the decision dated 01.11.2012. 4. Hence, following the above-said decision of this Court, the above Tax Case (Appeals) are dismissed and the order of the Tribunal stands confirmed. No costs. Consequently, connected M.P.s are ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
