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of <h1>High Court considers Section 80IB(10) deduction on pro rata basis, orders Tribunal record review</h1> <h3>The Commissioner of Income Tax, Central-1 Versus M/s. Puravankara Projects Ltd</h3> The High Court of Bombay admitted the appeals to consider the substantial question of law concerning the claim of deduction under Section 80IB(10) on a ... Claim of deduction u/s 80IB(10) - Held that:- Appeals admitted on the following substantial question of law : “Whether on the facts and in the circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal was justified in directing the Assessing Officer to allow the claim of deduction u/s 80IB(10) made by the assessee on pro rata basis without appreciating the fact that the provisions of section 80IB(10) clearly mandate that the assessee can be either eligible or not eligible for claiming deduction and the provisions do not contemplate any proportionate deduction?” The Registrar (Judicial)/Registrar, High Court, Original Side, Bombay to ensure that the original record in relation to this Appeal is summoned from the Tribunal and offered for inspection of the parties. This paper book is treated sufficient for the purpose of admission of this Appeal. However, the Registry must further ensure preparation of complete paper SRP 2/3 book in accordance with the Rules. The Registry in the first instance must send intimation of admission of this Appeal enclosing therewith a copy of this order so as to enable the Tribunal to act accordingly.The assessee waives service. Issues involved:Claim of deduction under Section 80IB(10) on a pro rata basis.Analysis:The High Court of Bombay, comprising S.C. Dharmadhikari and A.K. Menon, JJ., heard the arguments from both sides in the case. The Court noted that all questions presented, except for the issue regarding the claim of deduction under Section 80IB(10) on a pro rata basis, had become irrelevant. The Court admitted the appeals based on the substantial question of law related to this specific issue. The question raised was whether the Income Tax Appellate Tribunal was correct in directing the Assessing Officer to allow the deduction under Section 80IB(10) on a pro rata basis, despite the provisions not explicitly allowing for proportionate deduction. The Court directed the Registrar to summon the original record from the Tribunal for inspection and ensured the preparation of a complete paper book in compliance with the Rules. The assessee waived the service in this matter.
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