9911796707
TMI Blog2016 (3) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... he Revenue has raised the following grounds of appeal: "1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in treating that the project had commenced after 1.10.1998 without appreciating the fact that the AO had brought out sufficient material on record to conclude that the project had commenced much prior to 01.10.1998 i.e. on 13.11.1996 and hence not eligible for deduction u/s. 80IB(10) of the I.T. Act. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in relying on the decision of the Hon'ble ITAT in the case of M/s. Sarkar Builders, ITA No. 4835/M/07 dated 23.10.209 which has not been accepted by the Department." 3. Facts of the case are that the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13.11.1996 in the name of Sunil Builders got expired on 12.11.1997 and the assessee applied for commencement certificate of the residential project on 13.5.1999 and the commencement certificate was issued in the name of the assessee by the Municipal Corpn. Of Greater Mumbai on 5.8.1999. The Ld. CIT(A) held that the development work was started only after the commencement certificate issued in the name of the assessee on 5.8.1999 therefore he held that since the assessee has developed the project rather commenced the project after 1.10.1998, assessee is entitled for deduction u/s. 80IB(10) of the Act. 4. Aggrieved by this, the Revenue is in appeal before us. 5. The Ld. Departmental Representative vehemently supported the order of the AO i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A) held that the commencement certificate issued on 13.11.1996 in the name of Sunil Builders got expired on 12.11.1997 and the assessee on entering into development agreement with Sunil Builders applied for commencement certificate on 13.5.1999 and got certificate dated 5.8.1999 and the project was commenced by the assessee pursuant to the certificate dated 5.8.1999 and since the project was commenced after 1.10.1998, assessee is entitled for deduction u/s. 80IB(10) of the Act. While holding so, the Ld. CIT(A) observed as under: "The appellant on the other hand has contended that the commencement certificate (CC) dated 13.11.1996 issued in the name of Sunil Builders got expired on 12.11.1997 since Sunil Builders did not carry any developm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant of Sarkar Developers are to my mind on weaker footings compared to the case of the appellant. In the case of Sarkar Developers, both the certificates were in the name of the same assessee whereas in the case of the appellant, the CC elated 13.11.1996 is in the name of Sunil Builders and the CC dated 5.8.1999 is in the name of the appellant. However, the other facts of Sarkar Builders are quite similar to the facts of the appellant in as much as the CC was expired in both the cases and a fresh CC was obtained which is after 1.10.1998. The Hon. Tribunal in the case of Sarkar Builders had held that from the CC originally obtained, it cannot be said that the appellant has developed the project prior to 1.10.1998. This finding of the Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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