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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 ..... 263 by holding that it is purely on change of opinion? ii) Whether the Tribunal was justified in holding that the order under Section 263 of the Act passed by the CIT is purely based on change of opinion when the CIT has clearly brought out the facts not considered by the Assessing Officer while allowing the deduction?" 2. Learned Senior Standing Counsel for the Revenue, Mr.M.Swaminathan contended that the Assessee in the present case M/s.Anjali Foundations was only the land owner which gave the land to its Joint Venture Partner M/s.Narendra Properties Ltd., which constructed the building on the said land and therefore, the benefit of deduction under Section 80IB(10) of the Act was available only to the said Joint Venture Partner M/s.Na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs from the end of the financial year in which the housing project is approved by the local authority. Explanation.-For the purposes of this clause,- (i) in a case where the approval in respect of the housing project is obtained more than once, such housing project shall be deemed to have been approved on the date on which the building plan of such housing project is first approved by the local authority; (ii) the date of completion of construction of the housing project shall be taken to be the date on which the completion 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Commissioner of Income Tax under Section 263 of the Act. The relevant portion of finding of the Tribunal is quoted below for ready reference:- "We have considered the rival submissions. At the outset, it is to be appreciated that the order of assessment can be revised when both the conditions are met, first being the order is erroneous, and the second being the order is prejudicial to the interests of the Revenue. The view of the Revenue seems to be any order 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 ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he revision as done by the Commissioner of Income Tax under Section 263 of the Act is based exclusively on change of opinion, which is not permissible, when passing a revision under Section 263 of the Act. The Order under Section 263 of the Act is based purely on change of opinion and the same being impermissible under the provisions of the Section 263, the order dated 29.3.2017 passed by the Principal Commissioner of Income Tax under Section 263 of the Act in the case of the assessee herein stands quashed." 6. We, therefore, do not find any substantial question of law to be arising in this Appeal filed by the Revenue and it is devoid of merit and accordingly, it is dismissed. No costs. Copy of this judgment be sent to the Respondent/Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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