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TMI Blog2021 (11) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... housing projects, the assessee is entitled for deduction under Section 80IB (10) of the Act. - HELD THAT:- This ruling of Hon ble High Court of Mumbai is squarely applicable to the facts of the present case. We concur with the said ruling. In the case of Dilip Kumar Company [ 2018 (7) TMI 1826 - SUPREME COURT] referred to by the learned counsel for the revenue, the Hon ble Apex Court has considered the exemption notification and in that context, it has been held that exemption notification should be interpreted strictly and the burden of proving applicability would be on the assessee to show that his case comes within the parameters of the exemption notification. With great respect, this finding of the Hon ble Apex Court would not co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was right in law in allowing deduction under Section 80IB(10) to the assessee despite violation of condition contained in 80IB(10)(b) which states that the housing project should be on a plot of land which has a minimum area of 1 acre? 3. The assessee is a partnership firm engaged in the business of development of real estate and construction of residential apartments and business complexes and execution of housing projects. For the assessment years under consideration, proceedings were concluded by the Assessing Officer under Section 143(3) read with Section 147 of the Act disallowing the deduction under Section 80IB(10) as amended by the assessee. On further appeal, the Commissioner of Income Tax (Appeals) relying on his own order un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he extent of land was more than the area of one acre. Considering these aspects, the Commissioner as well as Income Tax Appellate Tribunal has reversed the finding of the Assessing Authority and held that the assessee is eligible for the deduction claimed under Section 80IB(10) of the Act. Accordingly, seeks to answer the substantial question of law in favour of the assessee and against the revenue. 6. Learned counsel placed reliance on the judgment of Hon ble High Court in the case of Commissioner of Income Tax Vs. Vandana Properties reported in [2012] 19 taxmann.com 316 and the judgment of the Coordinate Bench of this Court in the case of Commissioner of Income Tax Vs. Brigade Enterprises Ltd., reported in (2020) 429 ITR 0511 (Ka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Sri. R. Ganesh Shenoy Survey No. 132 situated at Derebail village. Mangalore. 39.50 2. Smt. Gayathri Pai Survey No. 132 situated at Derebail village. Mangalore. 17.50 3. Sri. S. Vaman Pai Survey No. 132 situated at Derebail village. Mangalore. 32.50 4. Sri. B. Nagaraj Rao Survey No. 132 situated at Derebail village. Mangalore. 60.25 5. Sri. B. Bharath Raj 6. Sri. B. Sanjith Raj Rao ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hose housing projects are approved by the local authority and fulfill the conditions set out under Section 80IB(10), the deduction thereunder cannot be denied to all those housing projects. Section 80IB(10) while specifying the size of the plot of land, does not specify the size or the number of housing projects that are required to be undertaken on a plot having minimum area of one acre. As a result, significance of the size of the plot of land is lost and, therefore, the assessee subject to fulfilling other conditions becomes entitled to Section 80IB(10) deduction on construction of a housing project on a plot having area of one acre, irrespective of the fact that there exist other housing projects or not. In these circumstances, the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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