2017 (7) TMI 1208

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....Vijay For the Respondent(s) : Mr. Siddharth Ranka with Mr. Mohd. Iqbal JUDGMENT 1. In both these appeals, common question of law and facts are involved, they are decided by this common judgment. 2. By way of these appeals, the appellants have assailed the judgment and order of the Tribunal whereby Tribunal has dismissed the appeals preferred by the department and cross objection filed ....

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.... admitted on 31.01.2017 "(i) Whether the Tribunal was justified in holding assessee as the developer and thereby allowing deduction u/s 80IB(10) of Rs. 2,54,89,737/-, ignoring the specific development agreement entered into by him merely as land owner with another developer to execute and construct the flats on the land of the assessee? (ii) Whether the Tribunal was justified in allowing ....

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..... In our view in CIT(A) and the tribunal have committed an error in not referring to the price in the previous year. 4.2 Therefore, the matter is required to be remitted back to the tribunal only on 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.....

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....DCRs' in short) under which the local authority sanctions the housing projects and noted that in these DCRs itself, an element of commercial activity is provided bu the total project is till treated as housing project. 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 reside....