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TMI Blog2023 (9) TMI 895X X X X Extracts X X X X X X X X Extracts X X X X ..... by the local authority. After having regard to the facts of the case, relevant provisions of the Act and the decision of the jurisdiction High Court in the case of B.M. and Brothers [ 2013 (10) TMI 290 - GUJARAT HIGH COURT] on the issue, in my considered opinion, the assessee was eligible to avail claim of deduction u/s. 80IB (10) of the Act on the profits earned from the project under consideration. Accordingly, this ground of appeal is allowed. - HONOURABLE MR. JUSTICE BIREN VAISHNAV And HONOURABLE MR. JUSTICE BHARGAV D. KARIA MR KARAN G SANGHANI(7945) FOR THE APPELLANT(S) NO. 1 ORDER ( PER : HONOURABLE MR. JUSTICE BIREN VAISHNAV ) 1. This tax appeal under Section 260A of the Income Tax Act, 1961 challenges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the units were given separately. The Assessing Officer found that if the assessee had constructed separate tenaments on these plots of lands and then sold them to individual buyers it cannot be termed as a housing project. Analyzing the provisions of Section 80IB(10) of the Act, the Assessing Officer disallowed the claim of deduction of Rs.3,49,29,737/-. 3.1 When the assessee carried the disallowance of deduction in appeal before the CIT(A), the CIT(A) found that considering the same issue which was for the assessment years 2008-09, 2010-11 and 2011-12 against which appeals had been preferred, the predecessor CIT(A) found that the project was approved by the Rajkot Municipal Corporation and therefore following the decision in the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the decision of the jurisdiction High Court in the case of B.M. and Brothers (Supra) on the issue, in my considered opinion, the assessee was eligible to avail claim of deduction u/s. 80IB (10) of the Act on the profits earned from the project under consideration. Accordingly, this ground of appeal is allowed. 6.2.2 In turn the department did not prefer any appeal to Hon'ble ITAT for AY 2008-09 and as such accepted the decision of ld. CIT(A). For AY 2010-11 and 2011-12 revenue has preferred appeal against the appellant orders. Hon'ble ITAT, Rajkot vide order dated 15.12.2016 in ITA No. 151/Rjt/2015 for AY. 2011-12 and vide order dated 02.05.2016 in ITA No. 209/Rjt/2015 for A,. . 2010-11 wherein while upholding the findings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee's own case in appeal preferred by Revenue in ITA No. 209/Rjt/2015 for A.Y. 2011- 12. The identical issue has been considered by the Co-ordinate Bench in the said judgment, the relevant observation whereof is as follows:- 11. We have given a thoughtful consideration to the underlying facts in the issues before us. We find force in the contentions of the Id. counsel. The facts of the case in hand are similar to the facts considered by the Hon'ble Jurisdictional High Court (supra). As no distinguishing facts have been brought on record by the Id. D.R. nor any distinguishing decision has been cited by the Id. D.R, we have already extracted the relevant part of the Hon'ble High Court's decision which has been fol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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