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Issues: Whether deduction under section 80IB(10)(a) could be denied merely because the completion or occupancy certificate was issued after the prescribed date, where the assessee had applied within time and the delay was attributable to the municipal authority.
Analysis: The claim for deduction was examined in the context of the statutory time limit under section 80IB(10)(a) and the municipal law governing issue of occupancy certificate. It was found that the assessee had applied for the certificate within the prescribed period, that the relevant municipal rules contemplated processing within a limited time, and that the assessee had no control over the authority's delay. The reasoning also treated the belated certificate as a technical lapse, particularly when no major deviation in construction was shown.
Conclusion: The assessee was entitled to deduction under section 80IB(10)(a), and the delayed issuance of the certificate did not defeat the claim.
Final Conclusion: The Revenue's appeal failed, and the allowance of deduction in favour of the assessee was sustained.
Ratio Decidendi: Where an assessee has complied with the prescribed procedure within time, a delay by the municipal authority in issuing the occupancy or completion certificate cannot, by itself, invalidate the statutory deduction if the delay is not attributable to the assessee and no material construction deviation is shown.
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