TaxTMI 
TaxTMI 
2013 (6) TMI 657
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....law, the ld CIT(A) erred in directing the Assessing Officer to allow the deduciton u/s. 80IB(10) r.w.s. 80IB(1) of the income- tax Act to the assessee in view of the decision of the Hon'ble ITAT in the case of M/s. Radhe Developers in ITA No. 2482/Ahd/2006 dated 29.06.2007, without appreciating that the approval by the local authority as well as completion certificate was not granted to the assessee but to the landowner and the rights and the obligations under the said approval were not transferable, and that transfer of dewelling units in favour of the end-users was made by the landowner and not by the assessee. 2. On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in directing the Assessing Officer to al....
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....A.Y.2007-08. 1.2 In the said order, the respected co-ordinate Bench has held as under :- "We find that the ld. CIT(A), following the aforesaid decisions in the case of M/s. Sahkti Corporation(supra) & M/s. Radhe Developers (supra), in the cases before us concluded that the respective assssees had dominant control over the projects and developed the land at their own risk and costs and therefore, were eligible for deduction u/s 80IB(10) of the Act. In the case of M/s. Sun Developers, a similar claim has been allowed by the ITAT in the AY 2005-06 while in the case of M/s Shreeji Developers, the AO himself allowed the claim in the order passed in consequence of direction of the ITAT in the AY 2004-05. the revenue have not placed before u....
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....tain directions to AO, as is evident from the paragraph reproduced below: "For the year under consideration, following the above mentioned judgments of Hon'ble Ahmedabad ITAT, the claim of the appellant for deduction u/s 80IB(10) is allowed, subject to the Assessing Officer finding that the situation has not changed and the assessee passes the test laid down in the case of M/s. Shakti Corporation and others, this year too. The Assessing Officer shall look into the agreement entered into by the assessee with the landowner(s) and decide whether the assessee has in fact purchased the land for a fixed consideration from the landowner(s) and has developed the housing project at its own cost and risks involved in the project. In case the Asses....
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....enue Department should not have any grievance being certain directions given to the AO, therefore, the grounds raised by the Revenue for both the years are hereby dismissed. 4. A propose to ground no.2 for A.Y.2008-09, we have noted that before learned CIT(A) the facts in respect of FSI issue was discussed in the following manner: "Without prejudice to the aforesaid argument it was observed by the Assessing Officer that the assessee had utilized FSI of 9595.64 sq. mt. and left unutilized FSI of 3408.76 sq. mt. and as the unutilised land was disposed by the assessee along with the tenements to prospective buyers, the profit booked from sale of 3408.76 sq. mt. was stated to be outside the ambit of provisions of section 80IB(10) as it is....