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TMI Blog2022 (6) TMI 476X X X X Extracts X X X X X X X X Extracts X X X X ..... elay in issuance of completion certificate is not attributable to the assessee. It should be deemed that the project is completed as on date of application. Applying the ratio of this judgement to the facts of the present case, we find the application seeking the completion certificate was moved by the respondent-assessee on 27.03.2012. The said application was accompanied by the Architect s certificate there was no material on record indicating that the PMC had pointed out any mistakes in the application moved by the respondent-assessee. Therefore, the grounds raised by the Revenue stands dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Pune Municipal Corporation, Pune (PMC) on 21.07.2012 which is beyond the prescribed dated 31.03.2012 for completion of the housing project rejecting the contention of the appellant that the application for completion certificate was made on 27.03.2012 before the PMC. The Assessing Officer also declined to follow the decision of ITAT, Pune Benches in assessee's own case vide ITA No.142/PUN/2015 for A.Y. 2011-12, order dated 18.08.2017 as the Department is contending the correctness of the decision before the Hon'ble Bombay High Court. 4. Being aggrieved by the above disallowance, an appeal was preferred before the ld. CIT(A), who vide impugned order allowed the appeal of the respondent-assessee following the decision of the of the Tribunal in assessee's own case for earlier assessment year 2011-12 wherein, the Tribunal following the decision of the Hon'ble Jurisdictional High Court in the case of CIT vs. Hindustan Samuh Awas Limited (2015) 377 ITR 150 (Bom.) held that once the application was moved before the prescribed date seeking completion certificate from PMC that would be deemed to be sufficient compliance of provisions of Act. 5. Being aggrieved by the above decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... granted by the PMC on 21.07.2012. The respondent-assessee had sought the exemption of profits u/s 80IB(10) of the Act. The claim was denied by the Assessing Officer on the ground that the completion certificate was issued by PMC only 21.07.2012 after due date for completion of project. On appeal before the ld. CIT(A), the claim was allowed following the decision of the ITAT, Pune Benches in assessee's own case for the immediate preceding year. The relevant provisions of section 80IB(10) reads as under :- "80-IB. ......... (10) The amount of deduction in the case of an undertaking developing and building housing projects approved before the 31st day of March, 2008 by a local authority shall be hundred per cent of the profits derived in the previous year relevant to any assessment year from such housing project if,- (a) such undertaking has commenced or commences development and construction of the housing project on or after the 1st day of October, 1998 and completes such construction,- (i) in a case where a housing project has been approved by the local authority before the 1st day of April, 2004, on or before the 31st day of March, 2008; (ii) in a case where a housing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he minor children of such individual, (ii) the Hindu undivided family in which such individual is the karta, (iii) any person representing such individual, the spouse or the minor children of such individual or the Hindu undivided family in which such individual is the karta. Explanation.-For the removal of doubts, it is hereby declared that nothing contained in this sub-section shall apply to any undertaking which executes the housing project as a works contract awarded by any person (including the Central or State Government)." 9. We have carefully gone through the Explanation 2 appended to clause (iii) of sub-section (10) of section 80IB of the Act. The said Explanation 2 appended to clause (iii) of sub-section (10) of section 80IB states that the date of completion of the housing project shall be the date on which the completion certificate is issued by the local authorities. This Explanation has come up for interpretation before the Hon'ble Bombay High Court in the case of Hindustan Samuh Awas Limited (supra) wherein the Hon'ble Bombay High Court placing reliance on the judgement of the Hon'ble Gujarat High Court in the case of CIT vs. Tarnetar Corporation, 362 ITR 174 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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