9911796707
TMI Blog2019 (3) TMI 1197X X X X Extracts X X X X X X X X Extracts X X X X ..... enue are dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... . The AO therefore asked the assessee as to why the claim of deduction u/s 80IB(10) of the Act not be disallowed. Assessee made detailed submissions which were not found acceptable to the AO. AO noted that as per the building permission issued by the Pune Municipal Corporation (PMC), the commencement of the project was 29.03.2007. AO noticed that building "A" was not completed. He was of the view that for being eligible to claim deduction u/s 80IB(10) of the Act, the completion of the housing project as a whole is necessary. In the case of the assessee AO noted that Building "A" could not be completed even by 31.03.2012 which was the prescribed date for completion of the project as a whole and therefore assessee had violated the mandatory c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bed conditions laid down in Section 80IB (10) of the Act for the said flats and when the completion certificate for the same was issued by the local authority indicating completion prior to 31-3-2012.The AO referred to the relevant Para of the said decision applicable to the facts of the said case but failed to quote the relevant Para wherein the Tribunal has directed to allow the deduction for the residential units, as applicable in the Appellant's case under consideration. My view, regarding the misconstrued interpretation by the AO, in the case of Brahma Associates & Others (supra) is further fortified by the above judicial pronouncements referred to by the Appellant and thus, denying the Appellant proportionate deduction u/s 80IB (1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra 16 of the Assessment order, the AO has commented on such the valuation report inter alia stating that" Valuation Officer had merely given the factual report" and "he has not offered any comments on whether the project is eligible for claim of deduction u/s 80IB(10)". This clearly indicates that even the report given by the Valuer appointed by the AO himself, was brushed aside lightly by the AO. In view of the discussions in the preceding paragraphs and as the Appellant had complied with the provisions laid down in Sec 80IB(10) of the Act in respect of 3 buildings for 108 residential flats constructed, and the project was entirely a residential project, relying on the ratio of the decisions of the Plethora of Judicial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal has dismissed the appeal of Revenue in A.Y. 2011-12. He thus supported the order of Ld.CIT(A). 5. We have heard the rival submissions and perused the material on record. The issue in the present ground is with respect to allowability of deduction u/s 80IB(10) of the Act. We find that identical issue arose in assessee's own case in A.Y. 2011-12 as AO while deciding the issue had followed the order of AO for A.Y. 2011-12. We find that in A.Y. 2011-12, Ld.CIT(A) had decided the issue in favour of assessee and against the order of Ld.CIT(A), Revenue had carried the matter before Tribunal. The Co-ordinate Bench of the Tribunal has decided the issue in favour of the assessee and dismissed the appeal of Revenue by observing as under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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