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TMI Blog2013 (10) TMI 1514X X X X Extracts X X X X X X X X Extracts X X X X ..... anda, This appeal filed by the Revenue is directed against the order dated 04- 07-2012 of the CIT(A)-V, Pune relating to Assessment Year 2009-10. 2. An adjournment petition was filed by the Ld. Counsel for the assessee requesting for adjournment of the case. However, since the issue is covered by the decision of the Tribunal in assessee's own case for the immediately preceding assessment year, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 33,49,404/- u/s.80IB(10) of the I.T. Act in respect of its project "Prem Aangan" situated at Pimpri, Pune. The Assessing Officer found that after exclusion of 513.80 sq.mtrs relating to road reservation for DP road, the area of the plot becomes less than one acre and therefore, the assessee is not entitled to deduction u/s.80IB(10) of the I.T. Act. Rejecting the various explanations of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... project should be 1 acre. After reducing this area net area remained at 3560.20 sq. mtrs as against the plot size of 4074 sq. mtrs, therefore, the Assessing Officer rejected the claim of deduction u/s.80IB(10). 6. According to the assessee he had purchased the land by way of Registered Development agreement dated 31-08-2004 in which total land area of 4074 sq. mtrs was mentioned. It was also fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt itself. 8. In view of the above, assessee was correct in taking stand that area of the plot is 4074 sq. mtrs as per plan and registered development agreement and reduction of road acquisition area from this gross plot area for calculation of minimum 1 acre was not justified. Accordingly, CIT(A) was justified in holding that assessee was entitled for deduction in respect of housing project "Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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