9911796707
TMI Blog2019 (6) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... m the local authority were also issued from time to time and last such certificate was issued on 1st December, 2008. Thus, the construction was completed and duly certified by the local authority before 31st March, 2009. The record further shows that the buildings E and F were not to be constructed and the land was to be handed over to the landlord on account of further developments and dispute. This was the only remaining portion of the construction out of the originally sanctioned plan. The assessee had claimed deduction in respect of the income arising out of sale of construction only for which completion certificates were issued. That being the position, we do not find any error in view of the Tribunal granting deduction under Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T(Appeals) may be noted:- The housing project of the appellant company Dhaval Hills comprised of buildings A,B,C,D,E F. The buildings C,D,E F were to be handed over to the land owners and the buildings C D were handed over to the landlords in the year 2006 and the buildings E F remained to be handed over. The other two buildings A B were the housing project of the appellant company on which it has claimed deduction u/ s. 80IB(10). From the details filed, it can be observed that the completion certificate was granted by the Thane Municipal Corporation to all the completed buildings as per the details given below, for which there is no dispute :- Building ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt of large housing project comprising of total built up area of 11,960.15 sq. mtrs. The portion of the appellant in this entire project was limited to two buildings only i.e. buildings A B and these buildings were complete in all respect including grant of the occupation certificate during the period under consideration. 4.5. It is an admitted fact that the buildings on which the appellant has claimed deduction u/s 80IB(10) are fully complete by the appellant company before the due date stipulated by the provisions of section 80IB(10) and last occupation certificate granted by the local authority in respect of these buildings on 01/12/2008 as mentioned in the chart above. The objection of the AO is that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n certificates from the local authority were also issued from time to time and last such certificate was issued on 1st December, 2008. Thus, the construction was completed and duly certified by the local authority before 31st March, 2009. 4. The record further shows that the buildings E and F were not to be constructed and the land was to be handed over to the landlord on account of further developments and dispute. This was the only remaining portion of the construction out of the originally sanctioned plan. The assessee had claimed deduction in respect of the income arising out of sale of construction only for which completion certificates were issued. That being the position, we do not find any error in view of the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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