Court allows deduction under Section 80IB despite initial parking slab designation.

The Respondent was deemed eligible for a deduction under Section 80IB (10) for a housing project despite the completion certificate initially indicating building 'G' as a parking slab only. The court considered the revised plan for building 'G' with residential units as part of the housing project, rejecting the argument that it should be treated as a separate project due to a fresh plan approved in 2011. The High Court upheld the Respondent's claim, emphasizing that building 'G' was not claimed for deduction and was purchased later, affirming eligibility for the deduction under Section 80IB (10) for the housing project.

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Issues:
1. Eligibility for deduction under Section 80IB (10) for a housing project.
2. Interpretation of completion certificate requirements for claiming deduction.
3. Consideration of building 'G' as part of the housing project.

Issue 1:
The Respondent claimed a deduction under Section 80IB (10) for the assessment year 2008-2009 for a housing project named "Amrut Kalash." The project was approved on 31.03.2001, with completion required by 31.03.2008. The completion certificate submitted by the Respondent was dated 28.03.2008, indicating building 'G' as a parking slab only. Subsequently, the plan for building 'G' was revised in 2011 to include 48 residential units. The Appellant argued that as the completion certificate did not show building 'G' with residential units, the Respondent was not entitled to the deduction. The ITAT upheld the Respondent's claim, considering the revised plan for building 'G' as part of the housing project.

Issue 2:
The Appellant contended that the completion certificate issued by the Pune Municipal Corporation was only a part completion certificate and did not cover building 'G,' thus disqualifying the Respondent from claiming the deduction. The Respondent argued that building 'G' was conceived as a separate project after 31.03.2008, supported by a fresh plan approved in 2011. Relying on the judgment in CIT vs. Vandana Properties, the Respondent asserted that building 'G' should be considered a distinct project and not an extension of the original project.

Issue 3:
The High Court rejected the appeal, emphasizing that the original plan sanctioned in 2001 and the revised plan in 2008 both designated building 'G' as a parking slab only. The Court noted that the completion certificate for building 'G' was issued later and that the Respondent did not claim any deduction under Section 80IB (10) for building 'G.' The Court concluded that building 'G' could not be considered part of the housing project, as the TDR for its construction was purchased in 2011. Therefore, the Respondent was deemed eligible for the deduction under Section 80IB (10) for the housing project.

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