9911796707
TMI Blog2019 (2) TMI 276X X X X Extracts X X X X X X X X Extracts X X X X ..... has fulfilled the conditions laid down for claiming deduction u/s.80IB(10) of the Act and the same was allowed by the CIT(Appeals). That even as per the legal parameters opined by the Hon'ble Karnataka High Court as on record, it is very much clear that the projections whatever was taken prior to the amendment in definition of built up area which got inserted in sub section (a) of section 80IB, which came into effect from 01.04.2005, the rigors of the amendment cannot be applied retrospectively to put the assessee in jeopardy. No infirmity in the order of CIT(Appeals) and therefore, relief granted by CIT(Appeals) to the assessee is sustained. Accordingly, grounds of appeal raised by Revenue for the assessment year 2007-08 are dismissed. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terms that he is relying on the provisions of clause-(a) of section 80IB(14), and relying on the report of the Department of Valuation Officer dated 27.10.2014 wherein the areas of balconies, boxes, projections and terrace adjoining to the staircase at ground floor and first floor were also included while arriving at the maximum built up area contemplated in clause-(c) of section 80IB(10). The Departmental Valuation Officer vide his letter dated 19.02.2015 addressed to the Assessing Officer has specified that in the valuation report issued by his office on 27.10.2014 the built up area was calculated including covered areas of balconies, boxes, projections and terrace. In the report dated 19.02.2015, the Departmental Valuation Officer has ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f all the row-houses constructed by the assessee does not exceed 1500 ft in area. Hence, it is to be concluded that the assessee has fulfilled the conditions laid down for claiming deduction u/s.80IB(10) of the Act. Therefore, the assessing officer is directed to allow the deduction claimed u/s.80IB (10) of the Act to the assessee. Ground No.2 is allowed. 5. We have perused the case records, heard the rival contentions and analyzed the facts and circumstances in the case. The issue in question is whether the amendment regarding definition of built up area which has been inserted in section 80IB (14) with effect from 01.04.2005 and because the project in question has got approval on 06.12.2004 i.e. before the amendment whether the rig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... areas of balconies, projections, boxes and terrace while calculating the built up area of the row-houses. The Assessing Officer has not taken into consideration second report dated 19.02.2015 submitted by the Departmental Valuation Officer. In fact, the Assessing Officer has not even taken into cognizance the direction given by the Ld. CIT(A), Aurangabad in para 3.4 of the order passed u/s.263 of the Act wherein he has categorically stated that the definition of built up area has been inserted in section 80IB(14) w.e.f. 01.04.2005 and because the project in question has got approval on 06.12.2004 i.e. before the amendment, the area of balcony and projections will not be included in calculating the total built up area. It is on this backgr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
