Tribunal affirms CIT (A) decisions on deduction under section 80IB(10)

The Tribunal upheld the decisions of the CIT (A) regarding the allowance of deduction u/s 80IB(10) of the Act based on the commencement and completion of the housing project. The Tribunal dismissed the Revenue's appeal, stating that the facts and circumstances were similar to previous cases, thereby rejecting the grounds raised by the Revenue. The completion certificate for the project was found to be in order, and the Tribunal concluded that the decisions of the CIT (A) were justified, leading to the dismissal of the appeal on 23rd September 2016.

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Issues:
1. Allowance of deduction u/s 80IB(10) of the Act - Approval of local authority and commencement of the project.
2. Allowance of deduction u/s 80IB(10) of the Act - Completion certificate from local authority.

Analysis:

Issue 1:
The appeal pertains to the allowance of deduction u/s 80IB(10) of the Act based on the commencement of the housing project. The assessee contended that the issue of commencement was covered in their favor by a previous Tribunal order. The Tribunal examined the relevant findings and upheld the decision of the CIT (A) that the housing project did not commence before the specified date. The Tribunal dismissed the appeal by the Revenue, stating that the facts and circumstances were identical to previous cases, thereby rejecting Ground no.1 raised by the Revenue.

Issue 2:
Regarding the completion certificate for the project, the assessee argued that the project's approval predated the amendment, making the due date provisions inapplicable. The completion dates for different buildings within the project were provided, with the final building completed before the due date. The CIT (A) found the arguments reasonable and fair, leading to the dismissal of Ground no.2 raised by the Revenue. The Tribunal, after reviewing the facts and material presented, concluded that the decision of the CIT (A) was justifiable and did not require any intervention. Consequently, the appeal of the Revenue was dismissed.

In conclusion, the Tribunal upheld the decisions of the CIT (A) regarding both issues raised by the Revenue, leading to the dismissal of the appeal. The judgment was pronounced on 23rd September 2016.

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