2015 (2) TMI 1279

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..... s an undisputed fact that the assessee’s residential units stood transferred to the aforesaid vendees well before the amendment We reiterate that section 80IB(10) is a deduction provision to be liberally construed. Therefore, the assessee succeeds so far as application of clause (f) of section 80IB(10) is concerned. For flats no.403 and 404 measure more than 1500 sq.feet i.e. 1653 and 1572 sq.feet respectively. The assessee fails to rebut this factual position. Section 80IB(10)(c) prescribes measurement of a residential unit to be upto 1500 sq.feet only. The language used in this specific clause refers the residential unit. This expression does not bar a deduction claim altogether if some of the units sold exceed the specified dimensi .....

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..... ats. The assessee had sold two adjoining flats No.403 and 404 measuring 1653 and 1572 sq.feet to Shri and Smt K. Ramachandran. The Assessing Officer viewed it as a violation of clause (f) of the relevant provision reading as under:- (f) in a case where a residential unit in the housing project is allotted to a person being an individual, no other residential unit in such housing project is allotted to any persons namely; (i) the individual or the spouse or the minor children of such individual, (ii) the Hindu undivided family in which such individual is the karta, (iii) any person representing such individual, the spouse or the minor children of such individual or the Hindu undivided family in which such individual is a the ka .....

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..... this amendment would only have prospective effect. It is an undisputed fact that the assessee s residential units stood transferred to the aforesaid vendees well before the amendment. This makes us to observe that its act of merely recognizing the said receipts in subsequent assessment years would not turn the clock back to the year 2008 (supra). We reiterate that section 80IB(10) is a deduction provision to be liberally construed. Therefore, the assessee succeeds so far as application of clause (f) of section 80IB(10) is concerned. 6. Now, we come to other CIT(A) s finding that assessee flats no.403 and 404 measure more than 1500 sq.feet i.e. 1653 and 1572 sq.feet respectively. The assessee fails to rebut this factual position. Section .....

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