TaxTMI 
TaxTMI 
2019 (4) TMI 1164
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.... it is noticed that none has appeared on behalf of assessee in spite of calls and even no application for adjournment was moved. From the ordersheet, we noticed that notices were ordered to be served successively on the address given by the assessee, but none appeared on behalf of the assessee. On the other hand Ld. DR is present in the court and is ready with arguments. Therefore we have decided to proceed with the hearing of the case ex-parte with the assistance of the Ld. DR and the material placed on record. 3. Since all the issues involved in these appeals as well as COs are common, therefore, they have been clubbed, heard together and a consolidated order is being passed for the sake of convenience and brevity. ITA No. 4148/Mum/....
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....2.04.2012 18.04.2012 (ii) On the other hand, the appellant claim that the entire deduction should be allowed, if not entirety, without prejudice, the claim of deduction should be on Pro-rata /proportionate basis. The appellant has given its reasons that the provisions of section 801B(10) (e) are not applicable in the case of the appellant as sub-clause (e) does not cover co-owners/joint owners. And even if both the flats combine together, the built up area of both the flats does not exceed 1500 sq ft Further stated that, as per sub clause (c ) of section 801B(10), the deduction is allowable on residential unit wise. Also, the appellant further argued that, the Rule of Liberal Interpretation has to be applied in the case....
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....0-IB. This decision has followed the decision of Calcutta ITAT in the case of Bengal Ambuja Housing Development Ltd., which is also endorsed by the Calcutta High Court. Therefore, it is now clear that the appellant is eligible for proportionate /pro-rata deduction of 80-IB(10); iii),Further, in the case of M/s.Ekta Sankalp Developers reported in ITA No.3276/Mum/2010 order dated 28.09.2012 by following the decision of Hon'ble Kolkata High Court in the case of Bengal Ambuja Housing Development Ltd. dated 5.1.2007 in ITA No.458 of 2006 & its decision in the case of M/s.Ekta Housing Pvt. Ltd.held to allow deduction to the assessee u/s.80IB(10) on pro-rata basis for the flats having built up area less than 1000 sq. ft. iv) ....
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.... deduction in respect of the flats which have built-up area less than 1,000 sq.ft., has to be worked out on pro-rata basis - A.O. accordingly directed to verify the claim of the assessee and allow the deduction on pro-rata basis in respect of flats in A Project." v) Kolkata "C" Bench of this Tribunal in Bengal Ambuja Housing Development Ltd. v/s DCIT, ITA no.1595/Kol./2005, vide order dated 24th March 2006, held as under:- "It is apparent from the perusal of section 8018(10) that this section has been enacted to such conclusion, we also find support from the order of the Hon`ble Supreme Court in case of Bajaj Tempo, Ltd. (supra) wherein it was held that provisions should be interpreted liberally and since....
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....pellant has worked the proportionate disallowance/allowance as below:- Net profit as per audited Profit & Loss account 96,53,252 Sales as per audited profit & Loss account 3,30,57,632 Net profit Ratio (i.e. Net Profit /Sales) 29.20 Sales Value of Flat No. 603 Florantina 30,67,861 Flat No.604 Florantina 30,67,861 61,35,722 Proportionate Net Profit on 61,35,722 29.20% 17,91,631 In view of the above, the proportionate disallowance on the two flats may be calculated on pro-rata basis as per law. Therefore, the AO is directed to disallow the claim of deduction on pro rata basis of the two flats and allow the claim of deduction on the balance amount. Accordingly the appeal of the appellant on thi....