2015 (2) TMI 1279

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....RS, CIT. ORDER Per S.S. Godara, Judicial Member This assessee's appeal for assessment year 2010-2011; emanates from order dated 07.10.2014 passed by the Commissioner of Income Tax(A)-V, Chennai, in ITA No.11/13-14(A)-V, sustaining section 80IB(10) deduction's disallowance/addition of F8,28,54,876/-, in proceedings u/s. 143(3) of the Income Tax Act, 1961 [in short the "Act"]. 2. The ass....

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....t in the housing project is allotted to a person being an individual, no other residential unit in such housing project is allotted to any persons namely; (i) the individual or the spouse or the minor children of such individual, (ii) the Hindu undivided family in which such individual is the karta, (iii) any person representing such individual, the spouse or the minor children of such in....

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....ct. This leaves the assessee aggrieved. 5. We have heard both parties and gone through the relevant findings. Admitted factual position is that assessee has sold two residential units jointly to Shri and Smt. K. Ramachandran on 16th and 17th July, 2008 i.e. much before the relevant previous year. Meaning thereby that the residential units with all rights and title stood transferred much before ....

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....construed. Therefore, the assessee succeeds so far as application of clause (f) of section 80IB(10) is concerned. 6. Now, we come to other CIT(A)'s finding that assessee flats no.403 and 404 measure more than 1500 sq.feet i.e. 1653 and 1572 sq.feet respectively. The assessee fails to rebut this factual position. Section 80IB(10)(c) prescribes measurement of a residential unit to be upto 1500 sq....