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TMI Blog2018 (12) TMI 1719X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessee had established on record that the buildings referred to as Complex A1 and A2 were part of separate project for which a separate approval was granted by the Municipal Corporation. Likewise, with respect to buildings Complex A3 to A8, building permission was granted by the Municipal Corporation separately. It was, in this background, that the CIT(A) and the Tribunal accepted two different ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 80IB(10) of the Income Tax Act, 1961 and therefore, would be eligible to claim deduction? (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal erred in allowing deduction u/S. 80IB(10) ignoring the fact that, the assessee has not completed the project due to failure attributable to assessee itself within stipulated time prescribed u/S. 80IB(10) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat originally the assessee sought approval of buildings A6 and A7, subsequently renamed as A1 and A2 on 2.2.2005. It was after the time lag of 18 months that the approval of other six residential buildings was obtained by the assessee on 8.9.2006 from PMC, while seeking initial approval there was no mention of other buildings. The observation of the Assessing Officer that the subsequent approval ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the provisions of Section 80IB(10) of the Act in respect of all the buildings in Phase-I and Phase-II. From the above portion of the judgment of the Tribunal, it can be seen that the assessee had established on record that the buildings referred to as Complex A1 and A2 were part of separate project for which a separate approval was granted by the Municipal Corporation. Likewis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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