9911796707
TMI Blog2015 (1) TMI 818X X X X Extracts X X X X X X X X Extracts X X X X ..... Tripathi ORDER P.C. The only question and which is stated to be substantial question of law reads as under: "Whether, on the facts and circumstances of the case and in law, was right in holding, that the housing project which also had certain units exceeding the prescribed ceiling on the built up area, the profits from the other units can be worked out separately and allowed deduction u/s 80IB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the project, namely, flat B103, B903 exceeded one thousand sq. ft. This was the detail which was available with the Assessing Officer. The Assessing Officer and the Commissioner both held that the Assesee had constructed these two flats with more than thousand sq. ft. area. Hence the requirement under section 80IB(10) is not fulfilled. 3. Mr. Mistry, learned Senior Counsel, has relied upon the fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... constructed in violation of the conditions of builtup area, then, the proportionate deduction will have to be reduced. Now, the proportionate deduction is available only when other conditions as regards the area of the plot is satisfied. The Tribunal applied the other condition, namely, project is on the size of the plot of a land which has a minimum area of one acre. Therefore, it does not affec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om determination and consideration in the case of Commissioner of Income Tax V/s. Happy Home Enterprises and Commissioner of Income Tax V/s. Kanakia Spaces (P) Ltd. in Income Tax Appeal No.308 of 2012 decided on 19th September, 2014. The Division Bench to which one of us (Shri S. C. Dharmadhikari, J.) was a party held in similar circumstances that the crucial or relevant date is the date on which ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
