Appeal dismissal upholds deduction for "Anant Regency Phase-II" construction project under section 80IB(10).

The appeal against the CIT (A)'s decision allowing deduction under section 80IB(10) for the construction project "Anant Regency Phase-II" was dismissed. Despite the project not being completed on time, the CIT (A) allowed deduction on a proportionate basis for the partially completed project. The deduction was upheld by the ITAT, citing previous decisions and rulings. The Revenue's appeal challenging the CIT (A)'s decision was rejected, affirming the allowance of deduction for the completed area, even though some units exceeded 1500 sq.ft and the plot area was less than 1 acre.

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Issues involved: Appeal against CIT (A)'s order allowing deduction u/s 80IB(10) for construction project.

Ground 1: CIT (A) allowed deduction u/s 80IB(10) despite project not completed on time.

Ground 2: CIT (A) allowed deduction on proportionate basis for partially completed project.

Ground 3: CIT (A) allowed deduction despite plot area being less than 1 acre.

Ground 4: CIT (A) allowed deduction even though some units exceeded 1500 sq.ft.

Details:
- Assessee claimed deduction u/s 80IB(10) for project "Anant Regency Phase-II."
- AO disallowed claim due to plot area < 1 acre, units > 1500 sq.ft, and incomplete project by 31.03.2008.
- CIT (A) allowed deduction based on earlier year's decision and ITAT Mumbai's order.
- Revenue challenged CIT (A)'s decision on above grounds.
- Assessee argued that issues were addressed in previous year's order.
- CIT (A) upheld deduction citing previous year's decision and ITAT's ruling.
- ITAT considered Revenue's objections from previous year's order.
- ITAT referred to previous case law regarding plot area calculation and unit size criteria.
- ITAT concluded that deduction should be allowed proportionately for completed area.
- ITAT rejected Revenue's appeal based on previous year's decision.
- Appeal by Revenue dismissed, CIT (A)'s decision upheld.

Judges: B. Ramakotaiah (Accountant Member) and Vivek Varma (Judicial Member)

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