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TMI Blog2019 (5) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... ding cannot be undertaken and therefore, the land owner is an integral part of the development of the Buildings. It is considered to be an Industrial Undertaking other than Infrastructure Development in view of the said provision. Merely because the land owner does not undertake the construction work himself, the land owner cannot be excluded from the ambit and scope of Section 80IB(10). The Tribunal has, therefore, has by citing its earlier decision in the case of Sri Lakshmi Brick Industries, [ 2012 (11) TMI 1090 - ITAT CHENNAI] wherein such benefit was allowed to the extent of 1/2 to both the land owner and the developer who constructed the building in question, has rightly given the said benefit to the land owner, the present Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Section 80IB(10) of the Act was available only to the said Joint Venture Partner M/s.Narendra Properties Ltd. and not to the land owner M/s.Anjali Foundations and since the Assessing Authority has granted the said benefit to the present land owner and therefore, Commissioner of Income Tax was justified in revising that order under Section 263 of the Act and denying the said benefit to the present Assessee, the landowner M/s.Anjali Foundations. 3. Section 80IB(10) of the Act is quoted below for ready reference:- (10) The amount of deduction in the case of an undertaking developing and building housing projects approved before the 31st day of March, 2008 by a local authority shall be hundred per cent of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompletion certificate in respect of such housing project is issued by the local authority; (b) the project is on the size of a plot of land which has a minimum area of one acre: Provided that nothing contained in clause (a) or clause (b) shall apply to a housing project carried out in accordance with a scheme framed by the Central Government or a State Government for reconstruction or redevelopment of existing buildings in areas declared to be slum areas under any law for the time being in force and such scheme is notified by the Board in this behalf; 4. Having hearing the learned counsel for the Revenue, we are satisfied that there is nothing in Section 80IB(10) of the Act to deny the benefit of Deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der granting deduction to an assessee is prejudicial to the interest of the Revenue. We are not in agreement with this view, in so far as, if the Act provides for granting a particular benefit or deduction to an assessee, the granting of such deduction or benefit to the assessee cannot be deemed as prejudicial to the interest of the Revenue. One has to take out of one's mind that the granting of statutory deduction is an erroneous order prejudicial to the interests of the Revenue. The issue of the order being erroneous however needs to be shown. Just a claim that the order is an erroneous would not make an order erroneous. What is the error would have to be specifically pointed out. In the present case, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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