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TMI Blog2019 (7) TMI 368X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of Jivesh Developers and Properties Pvt. Ltd., [ 2018 (4) TMI 698 - ITAT MUMBAI] . On a perusal of the aforesaid decision by the Tribunal, it is noticed that after going through all the details, the Tribunal has recorded a factual finding that the Quantum Park project satisfies all the conditions of section 80IB(10) . The reasons on the basis of which assessee s claim of deduction u/s 80IB(10) was disallowed in the preceding assessment years have been adopted by the AO while disallowing assessee s claim of deduction under section 80IB(10) in the impugned assessment year. That being the case, respectfully following the decisions of the Tribunal as referred to above, we uphold the decision of learned Commissioner (Appeals) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to furnish necessary details and also to justify the deduction claimed. In response, it was submitted by the assessee that similar deduction claimed by it has been allowed earlier. After considering the submissions of the assessee and other materials on record, the Assessing Officer observed that in the course of a search and seizure operation conducted in case of another assessee, certain plans were seized which revealed that as per one plan each floor in the Quantum Park project has two flats with built up area of 2,000 sq.ft. per flat, whereas, in the other plan each floor had four flats having built up area of less than 1,000 sq.ft. per flat. Further, the Assessing Officer noted that similar deduction claimed by the assessee in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. 6. The learned Authorised Representative submitted, in assessee s own case for the assessment years 2005 06 to 2011 12, under identical facts and circumstances, the Tribunal has allowed assessee s claim of deduction under section 80IB(10) of the Act. Further, he submitted, in case of assessee s joint venture partner with whom the assessee developed Quantum Park project, the Tribunal has allowed deduction claimed under section 80IB(10) of the Act. In this context, he drew our attention to the relevant observations of the Tribunal on the issue. Thus, he submitted, the issue raised by the Department in the present appeal is covered in favour of the assessee by the decisions of the Tribunal. 7. We have con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the orders passed by the first appellate authority allowing assessee s claim of deduction under section 80IB(10) of the Act in the assessment years 2005 06 to 2011 12, the Department preferred appeal before the Tribunal. However, while deciding the aforesaid appeals filed by the Department, the Tribunal in ITA no.2845 to 2851/Mum./2016, dated 26th October 2018, has allowed assessee s claim of deduction under section 80IB(10) of the Act. After considering all aspects of the issue the Tribunal has categorically come to a finding that the Quantum Park project fulfills all the conditions of section 80IB(10) of the Act. While doing so, the Tribunal has relied upon its own decision rendered in the case of Jivesh Developers and Properties Pvt. Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X
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