2012 (3) TMI 502

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....deduction u/s. 80IB(10) of the Income-tax Act, 1961. 3. After hearing both the parties, we are of the opinion that similar issue came for consideration before this Tribunal in the case of Modi Builders & Realtors Pvt. Ltd., in I.T.A. No. 1541/Hyd/2010. The Tribunal vide order dated 31st March, 2011 held as follows: "11. We have heard both the parties and also perused the material available on record. The main contention herein is with regard to inclusion of portico and balcony for the purpose of determining the built-up area as per clause (a) of subsection (14) of section 80IB of the Income-tax Act, 1961. As per this clause the definition of built-up area is as follows: "80IB(14)[(a) - "built-up area" means the inner me....

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....r. Therefore, there can be no doubt that prior to the introduction of the definition aforesaid clause built-up area would not include projections and balcony as normally understood. However, after the enactment itself clearly specifies that built-up area includes both projections and balconies as increased by the thickness of walls and does not include common area shared with others. This definition gives the enlarged meaning of built-up area which includes balcony and projection. After inclusion of balcony and projection if the total area of built-up area exceeds 1500 sq, ft. in this case the assessee is not entitled for deduction u/s. 80IB of the Act. The learned counsel for the assessee placed reliance on the judgement of Supreme Court i....

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....ght to prevail unless there are some strong and obvious reasons to the contrary. It has to be reiterated that the object of interpretation of a statute is to discover the intention of Parliament as expressed in the Act. The dominant purpose in construing a statute is to ascertain the intention of the Legislature as expressed in the statute, considering it as a whole and in its context. That intention, and, therefore, the meaning of the statute, is primarily to be sought in the words used in the statute itself, which must, if they are plain and unambiguous, be applied as they stand. 13. Being so, we cannot adopt meaning as contended by the learned counsel for the assessee. In our opinion, built-up area includes portico and ....