2013 (4) TMI 786

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.... under Section 80IB [10] of the Income Tax Act by the Assessing Officer ?" {B} Whether the assessee firm is entitled for claiming deduction under section 80IB (1) r/w. Section 80IB (1) and rule 18BBB as the assessee firm has not fulfilled the condition mentioned in the above mentioned section ?" Short issue is with respect to the assessee's claim of deduction under Section 80IB [10] of the Incometax Act, 1961 {"Act" for short}. Revenue's objection to such deduction appears to be that the assessee did not own the land on which the Housing Project was developed and that therefore, such deduction was not allowable. We had, in a judgment in case of Commissioner of IncomeTax v. Radhe Developers, reported in [(2012) 341 ITR 403 (Guj)]....

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....and. The development of the land was to be done entirely by the assessee by constructing residential units thereon as per the plans approved by the local authority. It was specified that the assessee would bring in technical knowledge and skill required for execution of such project. The assessee had to pay the fees to the Architects and Engineers. Additionally, assessee was also authorized to appoint any other Architect or Engineer, legal adviser and other professionals. He would appoint Sub-contractor or labour contractor for execution of the work. The assessee was authorized to admit the persons willing to join the scheme. The assessee was authorised to receive the contributions and other deposits and also raise demands from the members ....