2019 (1) TMI 1084

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....al under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 18th May, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 18th May, 2015 is in respect of Assessment Year 2006-07. 2. The Revenue urges the following question of law for our consideration: "Whether on the facts and in the circumstance of the case and in law, the T....

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....ved on 19th January, 2005 but the Occupation Certificate was not obtained till 31st March, 2009. Thus, disentitling the Respondent to the benefit of Section 80IB(10) of the Act. 5. Consequent to the reopening of the Assessment, the Assessing Officer by an order dated 15th December, 2011 passed under Section 143(3) read with Section 147 of the Act, denied the benefit of deduction under Section 8....

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....the financial year in which commencement certificate was obtained. 7. Being aggrieved by the order of the CIT(A), an Appeal was filed by the Revenue to the Tribunal. By the impugned order dated 18th May, 2015, the Tribunal dismissed the Revenue's Appeal. The Tribunal found on facts that the project was completed within time frame as required under Section 80IB(10) of the Act and that the ap....

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....the same effect the decision of the Gujarat High Court in CIT v/s. Tarnetar Corporation 362 ITR 174. In the present case on facts, it is found that not only the project was completed within time but an application for granting of certificate was also made well within the time. Thus, the Respondent should not suffer on account of the delay at the hands of the Competent Authority issuing the certifi....