2019 (1) TMI 1778

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....Mr.Ruturaj Gurjar ORDER P.C.: 1. Revenue has filed this appeal against the judgment of Income Tax Appellate Tribunal ("Tribunal" for short) dated 18th March, 2015, raising following questions for our consideration: "i) Whether on the facts and circumstances of the case and in law, the ITAT has erred in quashing the order u/s 263 of the Income Tax Act, 1961 when clear facts were b....

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....ary conditions for claiming such deduction, in particular whether the plot of land on which the housing project was being developed had minimum area of 1 acre. The Assessing Officer issued a show cause notice to the assessee and asked for an explanation why the claim should not be rejected since the land revenue records suggested that the area of a land was less than 4050 sq. meters (i.e. approxim....

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....ion, but the area on the basis of which permission for construction and development permission could be applied and granted should be considered for the purpose of ascertaining whether the relevant condition of minimum plot area is satisfied or not. 3. The Assessing Officer framed assessment under Section 143(3) of the Act and granted the deduction under Section 80IB(10) of the Act as claimed b....

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....s regard was supported by the decisions of the Tribunal on the same point. Inter alia on such grounds the appeal was allowed upon which the revenue has filed the present appeal. 4. The materials on record would clearly suggest that the Assessing Officer was conscious of the requirement of the area of the plot of land being not less than 1 acre. In this context, he had issued show cause notice t....