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TMI Blog2012 (5) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... by him. In the interest of justice, we restore this ground back to the file of the Assessing Officer to have a fresh measurement of the house and if the same is found to be up to 1500 sq.ft., he shall allow the assessee’s claim for deduction subject to other conditions of section 80IB(10) being fulfilled. We direct accordingly. - I.T.A. No. 559/Ind/2010 - - - Dated:- 9-5-2012 - SHRI JOGINDER SINGH, J.M. AND SHRI R.C.SHARMA, A.M. For the Petitioner : Shri H.P.Verma, Adv. Shri Girish Agrawal, CA For the Respondent : Shri Arun Dewan, Sr. DR ORDER PER R. C. SHARMA, A.M. This is an appeal filed by the assessee against the order of CIT(A) dated 3.5.2010 for the assessment year 2006-07 2. Only grievance of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hows that land is sold by Puneet Boda, partner of Vardhman Builders Developers. Just to facilitate the buyers of the houses to have a bank loan, the assessee entered into agreement for sale of land, the possession of which was retained with the firm and construction of houses was carried thereon. Even if the land is not in the name of assesee or the approvals were not given to the assessee, the assessee would still be entitled to deduction u/s 80IB(10) in view of the following decisions :- i. Man Developers 18 ITJ 485 (Trib Indore) ii. ACIT v.Smt. C. Rajni 140 TTJ 218 (Chennai) iii. Fortune Builders 14 ITJ 667 (Trib Indore) iv. CIT v. Radhey Developers 204 Taxman 543(Guj) v. Sreevatsa Real Estate 49 SOT 5 (Ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if he finds that completion certificate was signed on 31st March, 2008, he should treat the completion of project within the statutory period of 31st March, 2008 not withstanding the fact that it was despatched only on 21st April, 2008. We direct accordingly. 4. With regard to area of construction, it was submitted by the assessee that only in respect of one house out of the five houses, the area was found to be more than 1500 sq. ft., therefore, the disallowance u/s 80IB(10) should be restricted to one house only. As per the mandate of Section 80IB(10), the built up area of houses should not exceed 1500 sq.ft. From the order of the Assessing Officer, it appears that different houses have been measured by the DVO, one of the houses no.12 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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