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Appeals Dismissed Upholding Commissioner's Order on Deductions under sec. 80IB(10) The appeals were dismissed, upholding the Commissioner's order disallowing proportionate deduction under sec. 80IB of the Act and disallowing deduction ...
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Appeals Dismissed Upholding Commissioner's Order on Deductions under sec. 80IB(10)
The appeals were dismissed, upholding the Commissioner's order disallowing proportionate deduction under sec. 80IB of the Act and disallowing deduction under sec. 80IB(10) on a proportionate basis. The Assessing Officer's disallowance of the deduction under sec. 80IB(10) in various assessment years due to the construction of residential units exceeding the permissible size was upheld. The Commissioner allowed proportionate deduction under sec. 80IB(10) based on a decision of the Hon'ble Madras High Court in a similar case, with no contrary decisions in favor of the Revenue or the assessee regarding the deduction under sec. 80IB(10.
Issues: - Disallowance of proportionate deduction under sec. 80IB of the Act. - Disallowance of deduction under sec. 80IB(10) on a proportionate basis.
Analysis: - The appeals were filed by the assessee and the Revenue against the order of the Commissioner of Income Tax (Appeals) concerning the disallowance of proportionate deduction under sec. 80IB of the Act. - The Revenue contended that the Commissioner erred in directing the Assessing Officer to allow deduction under sec. 80IB(10) on a proportionate basis. - The Assessing Officer disallowed the deduction under sec. 80IB(10) in various assessment years due to the construction of residential units exceeding the permissible size of 1500 sq.ft. - The Commissioner of Income Tax(Appeals) allowed proportionate deduction under sec. 80IB(10) based on the decision of the Hon'ble Madras High Court in a similar case. - The Departmental Representative supported the Assessing Officer's decision, while the Authorized Representative of the assessee argued compliance with all conditions for deduction under sec. 80IB(10). - The Commissioner's order was confirmed, citing the lack of contrary decisions in favor of the Revenue or the assessee regarding the deduction under sec. 80IB(10). - The decision of the Hon'ble Madras High Court in a similar case was crucial in allowing proportionate deduction under sec. 80IB(10) to the assessee. - Both the appeals of the assessee and the Revenue were dismissed, upholding the Commissioner's order.
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