2014 (9) TMI 1084

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....31.03.2001 and which was still incomplete by 31.03.2008 in violation of section 80IB(10)(a)(i) of the Act which requires such project to be completed before 31.03.2008. 2. The Learned Commissioner of Income-tax (Appeals) erred in holding that building plan approved by Collector on 25.01.2007 was independent and not extension of building plan approved on 31.03.2001 by Pune Municipal Corporation without appreciating the fact that the buildings constructed as per the first plan were not a separate project from the revised layout & building plan approved on 25.01.2007 and the assessee had constructed contiguous buildings as per the revised plan which shows that it was one project. 3. Alternatively, the Learned Commissioner of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f of the Revenue, inter alia, submitted that the CIT(A) erred in allowing the deduction u/s.80IB(10) of the Act to the project Mahaganesh Nagari approved on 31.03.2001 and which was still incomplete by 31.03.2008 in violation of section 80IB(10)(a)(i) of the Act which requires such project to be completed before 31.03.2008. Accordingly, the order of CIT(A) be set aside and that of Assessing Officer be restored. On the other hand, none appeared on behalf of the assessee, so the matter is being decided exparte. 2.2 After going through the arguments of the learned Departmental Representative and material on record, we find that the Assessing Officer has made disallowance of deduction of Rs. 1,30,72,664/- u/s.80IB(10) of the Act. In fact, a ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....limits. The assessee should not suffer for the same. Under such circumstances, liberal interpretation should be used in favour of the assessee. It is settled legal position that law always gives remedy and law does wrong to no one. We are aware that provisions of section 80IB(10) suggest about only completion of construction and no adjective should be used alongwith word 'completion'. This, strict interpretation should be given in normal circumstances but facts before us are peculiar because of change of jurisdiction of land for the purpose of applicability of building bye laws. Assessee was incapacitated to obtain completion certificate from PMC because of exclusion of land in question from PMC limits which is beyond the control....