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TMI Blog2012 (5) TMI 568X X X X Extracts X X X X X X X X Extracts X X X X ..... ion has to be followed to dispose of the issue. With these directions, we hereby allow the ground of the Revenue that too for statistical purposes only. - I.T.A. No. 854/Ahd/2010 - - - Dated:- 31-5-2012 - Shri Mukul Kr. Shrawat And Shri T. R. Meena,JJ. For the Appellant : Shri Shyam Prasad, Sr.D.R. For the Respondent : Shri Mukund Bakshi, A.R. ORDER Per Shri Mukul Kr. Shrawat, Judicial Member : This is an appeal filed by the Revenue arising from the order of the Learned CIT(Appeals)-IV, Ahmedabad dated 04/01/2010. Revenue has raised following ground:- (i) The CIT(A) has erred in law and facts and circumstances of the case in deleting the addition of ₹ 25,85,970/- on account of deletion of deduction mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liance was placed on Radhe Developers Others ITA No.2483/Ahd/2006. However, Assessing Officer has held that the approval by the local authority has not been granted in the name of the assessee and that other conditions of 80IB(10) of the I.T.Act have not been completed, therefore rejected the claim of the deduction. 4. The matter was carried before the first appellate authority who has placed reliance on Radhe Developers Others cited-supra. (113 TTJ 300 (Ahd.) and Shakti Corporation (ITA No.1503/Ahd/2008. He has arrived at the conclusion as follows:- 3.4. I have carefully gone through the relevant clauses of the development agreement. On consideration of the relevant documents, I came to the conclusion that the appellant had acqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reliance on the order of the Assessing Officer and on the other hand, from the side of the respondent-assessee, ld.AR has placed reliance on the order of the Learned CIT(Appeals). 6. Having heard the submissions of both the sides, we are of the considered view that the issue of admissibility of deduction prescribed u/s.80-IB(10) is now to be decided as per the observations made by Hon'ble Gujarat High Court in the case of Radhe Developers India Ltd. in Tax Appeal No.171 of 1999 vide order dated 01/04/2009 [reported at (2010) 329 ITR 01 (Guj.)]. The Hon'ble Court has given finding in that case after examination of certain facts to satisfy the conditions prescribed u/s.80-IB(10). Only after giving a finding on facts, the Hon'b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim u/s.80IB(10) but the domain over the land and the control over the project has to be examined by the AO. (h) Whether on transfer of domain the land owners have received any consideration and whether it was a fixed amount or depend upon the profits of the project. Likewise, the AO has to ascertain that whether the assessee was given a fixed percentage as remuneration for the said project in lieu of granting permission to construct the residential units or to earn profit as a project developer. (i) The AO has to ascertain the position of the possession over the land during the construction period. (j) For the purpose of construction the AO has to examine the financial arrangements. (k) The AO has to examine the procedur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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