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TMI Blog2018 (4) TMI 1857X X X X Extracts X X X X X X X X Extracts X X X X ..... be denied in its entirety. The Assessee on the other hand has submitted that its claim u/s 80IB, during the year under consideration, was restricted only to the units falling below the threshold of 1500 sqft. The AO has not disputed this position of the Assessee. In the facts and circumstances of the case the Assessee's appeal is allowed. - ITA Nos.731 & 732/Bang/2017 - - - Dated:- 20-4-2018 - SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER For the Appellant : Ms. Neera Malhotra, CIT(DR), ITAT, Bengaluru For the Respondent : Ms. Suman Lunkar, CA ORDER Per Sunil Kumar Yadav, Judicial Member These appeals are preferred by the revenue against the order of the CIT(Appeals) in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erence in the order of CIT(Appeals) is called for. 3. The ld. DR did not dispute these factual aspects. 4. Having carefully examined the order of CIT(Appeals), we find that the CIT(Appeals) has adjudicated the issue following the order of the Tribunal and the judgment of the jurisdictional High Court. For the sake of reference, we extract the relevant observations of the CIT(Appeals) as under:- 6. The AO's observations / findings, the Assessee's submissions and the judicial precedents on the issue (including decisions of ITAT-Bangalore, in Assessee's own case) have been duly considered. The adjudication is accordingly made hereunder in the ensuing paras: The Assessee is a partnership firm in the business of developi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssions. As far as the appeal of the revenue is concerned, we are of the view that the question as to whether deduction u/s. 80IB(10) of the Act has to be allowed proportionate to the profits derived from sale of residential units whose built-up areas is less than 1500 sq.ft., even though some of the residential units in the very same projects exceeds the built-up area of 1500 sq.ft., the same has been decided by the Hon'ble High Court of Karnataka in the case of CIT V SJR Builders in ITA No. 32 of 2010 dated 19.03.2012. the Hon'ble High Court has taken the view confirming the order of the Tribunal, by holding that where residential units exceeds the built-up area of 1500 sq.ft, such units may be excluded for deduction, but the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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