TaxTMI 
TaxTMI 
2012 (8) TMI 926
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.... the approval for the project from Bhopal Municipal Corporation on 07.05.2003. The project was started in F.Y.2003-04, relevant to A.Y.2004-05. It was completed in F.Y. 2005-06 relevant to A.Y. 2006-07. As per the submissions placed on record and the arguments made before us, all units of the project were sold in F.Y.s 2003-04 to 2005-06. 3. For A.Y. 2004-05, the assessee claimed deduction u/s 80IB (10) of the Act for the first time. The same was allowed by the Assessing Officer vide an order passed u/s 143(3) of the Act. For A.Y. 2006-07 also, the deduction claimed was granted, though u/s 143(1) of the Act. For A.Y. 2006-07, however, the claim of the assessee for deduction u/s 80IB (1) of the Act was disallowed by the Assessing Officer, o....
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.... been used. In this case there is no refusal for issuance of the completion certificate by the Commissioner of Municipal Corporation till 31.03.2008, therefore, it is hereby held that the project of the assessee is deemed to be completed and completion certificate is deemed to have been issued by 31.03.2008, keeping in view (i) the submission of the AR, (ii) absence of any contrary material brought on the records by the A.O. and (iii) provisions of section 301(4) of the Madhya Pradesh Nagar Palika Nigam Adhiniyam. However later on, the Corporation issued the completion certificate on 02.06.2009. Here, there is no dispute regarding the appellant complying with the eligibility conditions required for claiming deduction u/s 80IB (10) and only ....
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....04.2005. It has been submitted that the said amendment is applicable for and from A.Y. 2005-06. It has been argued that the assessee had completed the construction of its project before 31.03.08, details whereof were duly submitted to the Assessing Officer. It has been stated that the assessee had applied to the local authority for issuance of completion certificate on 26.11.2007, but the said certificate was issued to the assessee only on 02.06.2009. It has been averred that the matter is squarely covered in favour of the assessee by the decision of the Tribunal rendered on 09.12.2011, in ITA Nos.2417/Del/2011 to 2422/Del/2011 (copy placed on record) in the case of "M/s Girija Colonisers", a sister concern of the assessee firm. It has been....
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....from the City Planner, Bhopal Municipal Corporation, who has reported that the assessee submitted application for completion certificate in respect of its housing projects on 26.11.2007, the assessee M/s Girija Colonisers had complied with all the formalities and the Municipal Corporation has to carry out inspection of all the constructed units before issuing completion certificate, and M/s Girija Colonisers had given possession of most of the units before submitting the application for completion certificate, as a result of which it took time for inspection. In the light of the facts narrated in AO's remand report and facts available on record, the ld. CIT(A) has taken a view that the assessee has completed the construction much prior to 3....