2013 (10) TMI 1514

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.... Shri Walimbe ORDER R.K. Panda,   This appeal filed by the Revenue is directed against the order dated 04- 07-2012 of the CIT(A)-V, Pune relating to Assessment Year 2009-10. 2. An adjournment petition was filed by the Ld. Counsel for the assessee requesting for adjournment of the case. However, since the issue is covered by the decision of the Tribunal in assessee's own case for t....

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....s below we find the assessee claimed deduction of Rs. 2,33,49,404/- u/s.80IB(10) of the I.T. Act in respect of its project "Prem Aangan" situated at Pimpri, Pune. The Assessing Officer found that after exclusion of 513.80 sq.mtrs relating to road reservation for DP road, the area of the plot becomes less than one acre and therefore, the assessee is not entitled to deduction u/s.80IB(10) of the I.T....

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....s conditions including deduction u/s.80IB(10) area of the plot of project should be 1 acre. After reducing this area net area remained at 3560.20 sq. mtrs as against the plot size of 4074 sq. mtrs, therefore, the Assessing Officer rejected the claim of deduction u/s.80IB(10). 6. According to the assessee he had purchased the land by way of Registered Development agreement dated 31-08-2004....

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....nt of road acquisition and therefore this was taken care in development agreement itself. 8. In view of the above, assessee was correct in taking stand that area of the plot is 4074 sq. mtrs as per plan and registered development agreement and reduction of road acquisition area from this gross plot area for calculation of minimum 1 acre was not justified. Accordingly, CIT(A) was justified....