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TMI Blog2019 (2) TMI 644X X X X Extracts X X X X X X X X Extracts X X X X ..... and admeasuring 4074 sq.mtrs. vide registered Development Agreement dated 31.08.2004 and where also the sanctioned building plan mentioned the plot area of 4074 sq.mtrs., out of which deduction of road acquisition by PMC was 513.80 sq.mtrs., fulfills the basic condition of section 80IB(10) of developing the housing project on minimum area of one acre. It was held that road acquisition area which w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income-tax Act, 1961 (in short the Act ). 2. The Revenue has raised the following grounds of appeal:- 1. Whether on the facts and in the circumstances of the case, the Ld.CIT(A) has erred in accepting that the road acquisition area is to be considered as part of area of the plot for calculation of minimum 1 acre of area for claiming deduction u/s. 80IB(10) of the I.T. Act, 1961. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d based on the land against which FSI/FAR are issued. 5. Whether on the facts and circumstances of the case, the CIT(A) has erred while interpreting the CBDT circular No.5/2005 dated 15.07.2005 to conclude that the area of road to be the area eligible u/s.80IB. 3. The learned Authorized Representative for the assessee pointed out that the issue raised in the present appeal stands covere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as reserved of 513.80 sq.mtrs. and on the remaining area of 3560.20 sq.mtrs. the housing project was built. The assessee for the first time made the aforesaid claim in assessment year 2008-09 and the same was denied by the Assessing Officer, but was allowed by CIT(A). The Tribunal dismissing the appeal of Revenue in ITA No.498/PN/2012 relating to assessment year 2008-09, vide order dated 17.04.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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