2018 (11) TMI 1249

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....ly served on the assessee. Despite service of notice none is present on behalf of the assessee / respondent to defend the impugned order. It seems that the assessee is not keen to defend the impugned order. Under such circumstances we are constrained to proceed with the hearing of appeal with the assistance of ld. DR and material available on record. 3. The brief facts of the case as emanating from records are : The assessee - partnership firm is a promoter and developer. The assessee developed a housing project named "Paradiso" at S. No. 240/2, Wakad, Tal. Mulshi, Distt. Pune. The said project consists of a building with three wings viz. A, B and C and commercial area. The assessee claimed deduction u/s. 80IB(10) of the Income Tax Act, ....

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....ng the entire size of the plot. If the area of DP road is included the size of plot is more than one acre. Hence, the Commissioner of Income Tax (Appeals) allowed assessee's claim of deduction u/s. 80IB(10) negating both the objections raised by the Assessing Officer. Now, the Revenue is in appeal assailing the findings of Commissioner of Income Tax (Appeals). 4. Shri S.B. Prasad representing the Department vehemently defended the findings of Assessing Officer and prayed for rejecting assessee's claim of deduction u/s. 80IB(10) of the Act. 5. We have heard the submissions made by the ld. DR and have perused the orders of authorities below. The Revenue in appeal has assailed the order of Commissioner of Income Tax (Appeals) on two grou....

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....as 259 CTR 362 have approved allowing of proportionate deduction u/s. 80IB(10) in respect of completed eligible units. The Tribunal in catena of orders have been consistently allowing proportionate deduction u/s. 80IB(10) in respect of units which are complete in every respect in consonance with the conditions set out u/s. 80IB(10) of the Act. The ld. DR has not brought to our knowledge any contrary decision of Hon'ble Jurisdictional High Court or the Hon'ble Apex Court. We do not find any infirmity in the findings of Commissioner of Income Tax (Appeals) in allowing pro-rata deduction to the assessee in respect of completed residential units. Accordingly, ground Nos. 2 and 3 of the appeal by the Revenue are dismissed being devoid of any mer....