2012 (10) TMI 1208

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....laring total income of Rs. 7,04,870/-. However, the assessment was completed after partly disallowing deduction u/s 80IB(10) of the Income Tax Act, 1961 (the Act) at an income of Rs. 63,12,940/- vide assessment order dtd. 27-12-2010 passed u/s 143(3) of the Act. On appeal, the ld. CIT(A) while allowing substantial relief to the assessee partly allowed the appeal. 3. Being aggrieved by the order of the ld. CIT(A) the Revenue is in appeal before us. 4. Ground No. 1 is against the deletion of disallowance of deduction u/s 80IB(10) of the Act on car parking charges of Rs. 15,53,500/-. 5. Brief facts of the above issue are that it was disallowed by the A.O. on the ground that the income received on sale of car parking space is not inclu....

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....see's own case. The Tribunal in ITA No. 3016/Mum/2008 for A.Y. 2004-05 dtd. 28-10-2009 has held vide para 12 of the order as under:- "As regards ground No. 2 of the revenue, relating to the income from car parking spaces, we agree with the finding of the CIT(A) that they are the integral part of the housing project and hence it is to be included for deduction u/s 80IB(10) of the Act. In the result, ground No. 2 is allowed." The above order has been followed by the Tribunal in the subsequent assessment years i.e. 2005-06 and 2006-07. In the absence of any distinguishing feature brought on record by the Revenue, we respectfully following the consistent view of the Tribunal, decline to interfere with the order passed by the ld. CIT....

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.... of eligible business profits for deduction u/s 80IB(10) of the Act.   11. At the time of hearing the ld. D.R. supports the order of the A.O. 12. On the other hand, the ld. Counsel for the assessee files details of miscellaneous income. The ld. Counsel for the assessee while referring to the details of miscellaneous income i.e. Development charges Rs. 1,185,562/-, Corpus fund charges Rs. 1,270,245/-, legal charges Rs. 351,000/-, Society formation charges Rs. 351,000/-, water, electric & other deposits Rs. 825,500/- totalling to Rs. 3,983,307/- (-) paid to Bindu Land Developers & Builders Rs. 1,006,927/- = 2,976,380/- submits that this issue is also covered in favour of the assessee by the decision of the Tribunal in the case of I....