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TMI Blog2016 (9) TMI 295X X X X Extracts X X X X X X X X Extracts X X X X ..... t’ has not been defined under Section 80IB of the Act and thus, must be construed in its ordinary sense and in the context that Section 80 IB (10) which specifies the attributes of an eligible housing project. In the present case a real estate development which on a standalone basis is complete in all respects, that is, it includes the dwelling units, the necessary infrastructure, common areas and common facilities for the residents of the dwelling units would constitute a housing project for the purpose of Section 80IB of the Act and we find no infirmity with the decision of the CIT(A) and the ITAT. The decision in the case of Brahma Associates (2011 (2) TMI 373 - BOMBAY HIGH COURT ) is wholly inapplicable in the facts of the pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 pertaining to Assessment Years ( AY ) 2007-08, 2008-09 and 2009-10 respectively. 3. The said appeals (ITA Nos. 5373, 4031 4032) were filed by the Revenue against the orders dated 28th June, 2013, 13th March, 2013 and18th March, 2013 passed by the Commissioner of Income Tax (Appeals) [CIT(A)] allowing the Assessee s respective appeals for AYs 2007-08, 2008-09 and 2009-10 against the disallowance of deduction under Section 80IB(10) of the Act in respect of two of its projects, namely, Omaxe Grandwoods (GH-03) Noida and Omaxe Palm Greens-I, Greater Noida . 4. In these appeals, the Revenue has projected the following common questions of law: 2.1 Whether the Tribunal erred on the facts and in law in allowing deduction under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be termed as separate housing projects. 8. The AO held that the project 'Omaxe Grandwoods Noida' was a singular housing project spanning over 29.41 acres consisting of units developed to plots of land shown as GH-01, GH-02 and GH-03. Admittedly, the towers constructed on plots marked as GH-02 and GH-03 did not confirm to the conditions as stipulated under Section 80IB(10) of the Act. Since, according to the AO, the development on land marked as GH01, GH-02 and GH-03 formed a part of a singular housing project, he concluded that deduction under Section 80IB was not available to the Assessee in respect of the construction/development of plot GH-03. The AO took a similar view in the case of Omaxe Palm Greens-I, Greater Noida. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the aforesaid basis, the CIT(A) accepted the Assessee s contention that the GH-03 qualified as a separate housing project and complied with all the conditions as specified under Section 80IB(10) of the Act. The CIT(A) held that the common approval for the three schemes as demarcated on the plan with independent facilities would not in any manner dilute the position that the three housing schemes on separate plots earmarked as GH-01, GH02 and GH-03 were separate and independent housing projects. 10. Insofar as Project Omaxe Palm Greens-I, Greater Noida is concerned, the CIT(A) noted that the said projects spanned over an area of approximately 50 acres. The housing project in respect of which deduction was claimed by the Assessee consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of fact. In the present case, the CIT(A) had found that the real estate developments in respect of which deductions under Section 80IB were claimed by the Assessee constituted separate housing projects as: (i) they were built on plots of land which were clearly demarcated and separated from other projects; (ii) the housing schemes were clearly demarcated on the sanctioned plans and were reflected separately; (iii) the housing schemes in question, namely, Omaxe Grandwoods (GH-03) and Omaxe Palm Greens-I were complete and independent real estate developments as the same not only consisted of built-up residential buildings but also separate common facilities and amenities provided for the residential units of the housing proj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld not be excluded for the purposes of deduction available under Section 80IB of the Act. The Court held that the benefit was available to an Assessee in respect of income derived from the entire project and was not limited to the income derived from the sale of residential units alone. The said decision is of no assistance to the Revenue as this is not a case where income from a part of the housing project is sought to be considered for computing the deduction under Section 80IB; in the present case, the finding is that the income from the housing schemes in respect of which deductions are claimed are by themselves standalone complete housing projects. 17. In our view, no substantial questions of law arise. The appeals are, according ..... X X X X Extracts X X X X X X X X Extracts X X X X
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