For Full Access To All Latest Judgments on Income Tax
Click Here To Subscribe Now
Take a tour of our Income-Tax Library

Assessment Order dated 08.03.2014, has concluded the assessment holding that similar view was taken for the year 2009-10, that is, each plan and approval is an independent project comprised in an area less than that specified in the Section and thus, not qualifying for the purported benefit of the deduction and accordingly, assessed the income at Rs. 5,27,80,960/-. The ITAT, on facts also found that the Assessee has obtained approvals of the plan for the proposed projects and also planned the entire project regarding number of floors, number of apartments in each floor, cost of each apartment based on the square foot area of the apartment and it was done as a composite project at the proposed site in S.Nos.486/1 and 482. In the light of the factual findings coupled with the fact that the Assessee's owncase, on the earlier occasions in TCA.Nos.581 & 582/2011 and 314 and 315/2012 vide common judgment dated 01.11.2012, was allowed and though a ground was raised before the ITAT as to the location of the plots in two different streets, but no arguments have been advanced, this Court is of the considered view that there are no substantial questions of law arise for consideration in this appeal. In the result, the TaxCaseAppeal is dismissed, confirming the order of the Income Tax Appellate Tribunal dated 20.11.2017, made in ITA No.245/Mds/2017 relating to the Assessment Year 2008-09. No costs.

Shanti Prime Publication Pvt. Ltd.

Sec. 80IB of Income Tax Act, 1961— Deduction —The respondent/Assessee filed the Return of Income Tax for the Assessment Year 2007-08 on 29.09.2008, after claiming deduction under Section 80IB[10] of the Income Tax Act, 1961, and income wasamended from time to time.The Assessing Officer, in the course of completing assessment for the Assessment Year 2009-10, noticed the fact that the Assessee did obtain plan for construction of the entire plot of measuring slightly over one acre. The Assessing Officer held that the project was not an unified project in an extent of one acre and treated each approval as a separate project extending in an area less than one acre and therefore, not allowed the claim of deduction under the said Section. The deduction allowed in respect of earlier orders has to be withdrawn and therefore, a notice under Section 148 of the Income Tax Act, 1961, was issued on 01.03.2013 for the Assessment Year 2008-09.
The Assessee, challenging the said order, filed an Appeal before the Commissioner of Income Tax [Appeals]. The CIT(A), by taking into consideration, the facts and circumstances of the case,has allowed the appeal filed by the Assessee partly,The Revenue, filed a further appeal before the Income Tax Appellate Tribunal. The ITAT, having recorded the finding, found that the appeal filed by the Revenue was devoid of merits and insofar as the Assessee's Cross Objection was concerned, the ITAT, having found that it do not merit any consideration, had dismissed the appeal filed by the Revenue as well as the Cross Objection filed by the Assessee and challenging the legality of the dismissal of the appeal filed by the Revenue, the tax case appeal was filed. The ITAT, on facts found that the Assessee has obtained approvals of the plan for the proposed projects. The Tax Case Appeal was dismissed, confirming the order of the Income Tax Appellate Tribunal. --- CIT vs. A. JAGADEESWARI.[2020] 23 ITCD Online 96 (MAD)