2017 (5) TMI 1590

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.... : Mr. Anuroop Singhi with Mr. Aditya Vijay, Mr. K.D. Mathur for Mr. R.B. Mathur. For the Respondent(s) : Mr. Gunjan Pathak with Ms. Ishita Rawat. ORDER 1. In both these appeals common question of law and facts are involved hence they are decided by this common judgment. 2. By way of these appeals, the appellant has challenged the judgment and order of the Tribunal whereby the Tribunal....

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....tion 80IB (10) of the Income Tax Act,1961? D.B. Income Tax Appeal No.132/2012 "(1) Whether on the facts and in the circumstances of the case, the ITAT was justified in upholding the order of CIT(A) deleting the addition of Long Term Capital Gain of Rs. 1,90,78,560/- which was made by the Assessing Officer by applying the market value on the basis of the rate communicated by Ghazi....

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....n this issue. 4.3 The matter is remitted back to tribunal to decide, the same keeping in view the statutory provision. We make it clear that we have not expressed any opinion of merits. 5.1 The second issue is covered by the decision of this court in Commissioner of Income Tax Vs. Veena Developers(2015) 277 CTR 0297(SC) wherein it has been observed as under: "High Court interpreted ....

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.... a. Upto 31/3/2005 (subject to fulfilling other conditions), deduction under Section 80IB (10) is allowable to housing projects approved by the logal authority having residential units with commercial user to the extent permitted under DC Rules/Regulations framed by the respective local authority. b. Where the commercial user permitted by the local authority is within the limits p....