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TMI Blog2022 (9) TMI 349X X X X Extracts X X X X X X X X Extracts X X X X ..... e plot and mere division on account of reservation would not change the character of existing plot. The conditions stipulated in section 80IB(10) of the Act, of the project being one acre of plot, was held to be fulfilled. Conditions stipulated in section 80IB(10) for claiming deduction have been fulfilled by the assessee and necessary evidences have been furnished and therefore, for the year under consideration, the assessee was entitled to get deduction u/s 80IB(10) of the Act. The ld. D.R fairly conceded that the issue is covered in favour of the assessee. Respectfully following the aforestated decision of Pune Tribunal on the same parity of reasoning and the same set of facts and circumstances, the claim of deduction u/s 80IB(10) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts wherein it was held that multiple projects can be completed on one acre of land. Following the decision of the Tribunal deduction u/s 80IB(10) of the Act was granted by the ld. CIT(A). 4. At the time of hearing, the ld. A.R of the assessee brought to our notice the decision in assessee‟s favour in assessee‟s own case in ITA No. 1974 to 1976/PUN/2016 for A.Y. 2011-12 to 2013-14, order dated 25-09-2018. In the said order, the Tribunal has held as follows: 10. We find that the issue is squarely covered by the order of Tribunal (supra) in assessee s own case, wherein in para 3 it was observed that the total area of plot was 6900 sq.mtrs. and after reducing 300 sq.mtrs. for project road, remaining area was 6600 sq.mtrs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nces have been furnished and therefore, for the year under consideration, the assessee was entitled to get deduction u/s 80IB(10) of the Act. The ld. D.R fairly conceded that the issue is covered in favour of the assessee. 6. Respectfully following the aforestated decision of Pune Tribunal on the same parity of reasoning and the same set of facts and circumstances, the claim of deduction u/s 80IB(10) of the Act which has been allowed to the assessee by the ld. CIT(A) following the Tribunal‟s order (supra) cannot be faulted with for any reason whatsoever. The relief provided to the assessee is sustained. 7. The appeal of the Revenue in ITA No. 669/PUN/2019 for A.Y. 2014-15 is dismissed. 8. Coming to the appeal of the Revenue i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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