Tribunal Upholds Pro-Rata Deduction Decision under Section 80IB(10) for Assessment Years

The Tribunal upheld the decision to allow a pro-rata deduction u/s.80IB(10) based on completion status for assessment years 2012-13 & 2013-14, following a relevant legal precedent. The appeals were dismissed, emphasizing consistency with prior rulings and the specific circumstances of the case.

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Issues:
- Appeal by Revenue against deduction u/s.80IB(10) for assessment years 2012-13 & 2013-14.

Analysis:
1. Issue of Deduction u/s.80IB(10):
- The appeals concerned the allowance of deduction u/s.80IB(10) of the Income-tax Act, 1961 on a pro-rata basis.
- The Assessing Officer disallowed the deduction claimed by the assessee as the project did not meet the specified criteria.
- The ld. CIT(A) allowed a proportionate deduction for the flats constructed before a certain date, based on completion status.
- The Revenue challenged this decision, but the ld. CIT(A)'s observation about the completion status was not contested.
- The Tribunal referred to a previous order in a similar case where pro-rata deduction was allowed, which favored the assessee.
- Relying on the precedent, the Tribunal upheld the decision of the ld. CIT(A) and dismissed the appeals.

2. Common Issue for A.Y. 2012-13 & 2013-14:
- The appeals for both assessment years raised the same issue regarding the entitlement to deduction u/s.80IB(10) on a pro-rata basis.
- The facts and circumstances of both appeals were found to be similar, except for the variance in the deduction amount claimed.
- The Tribunal consolidated the orders for both years for convenience and efficiency in disposal.

3. Legal Precedent and Approval of View:
- The Tribunal cited a specific order from the Pune Benches in a related case, establishing the entitlement to pro-rata deduction u/s.80IB(10) for completed buildings.
- The ld. DR acknowledged the similarity between the precedent and the current appeals, conceding in favor of the assessee.
- Following the precedent and the decision in the previous case, the Tribunal approved the view taken by the ld. CIT(A) in allowing the pro-rata deduction.

In conclusion, the judgment centered on the issue of deduction u/s.80IB(10) for the assessment years 2012-13 & 2013-14, where the Tribunal upheld the decision to allow a pro-rata deduction based on completion status, following a relevant legal precedent. The appeals were dismissed, emphasizing consistency with prior rulings and the specific circumstances of the case.

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