2011 (4) TMI 1403

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.... M.A. No.70/Ahd/2010 2. In this Misc. Application the assessee has pointed out that it is carrying on the business of construction and development of residential projects. It claimed deduction under section 80IB(10). The said deduction was denied by the AO saying that the assessee has constructed some residential units which were in excess of 1500 sft. and therefore, provisions contained in sub-section (10) of section 80IB are not applicable. His view was affirmed by ld. CIT(A). When the matter cam up before the Tribunal then vide its order dated 28th Noember, 2008, it dismissed the related ground of the assessee by observing as under :- "6. We have carefully considered the rival submissions, perused the material placed before us and also....

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....sion, we are of the view that the deduction u/s 80IB(10) are available to an undertaking only if it complies with all the conditions mentioned therein. In case the undertaking fails to comply with any of the conditions, it will not be entitled for the deduction. This is the fact on record that the assessee in this case has constructed some of the residential units, the built up of each area of which exceeds 1500 sft. Thus there is a violation of condition (c) u/s 80IB(10) and, therefore, in our opinion, the assessee will not be entitled for the deduction. Even the assessee will not be entitled for proportionate deduction." 3. It was further submitted that in the order passed under section 264 by the Commissioner for Asst. Year 2006-07 on....