2018 (4) TMI 1857

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.... to the interest of the revenue, is opposed to law and the fact and circumstances of the case. 2. The Ld. CIT (A) has not appreciated the fact that the condition specified u/s 80IB(10) of I T Act that the built-up area of each flat should be less than 1500 Sqft. to claim the deduction u/s 80IB of the I T Act. 3. The Ld.CIT (A) has erred in allowing the deduction u/s 80IB treating the issue liberally when the facts of the case are otherwise. 4. For these and other grounds that may be urged at the time of hearing, it is prayed that the order of the CIT (A) in so far as it relates to the above grounds may be reversed and that of the Assessing Officer may be restored. 5. The appellant craves leave to add, alt....

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....t AY: 2013-14 under consideration assessee declared a total income of Rs. 9.02,72,260/- after claiming deduction of Rs. 4,02,06,560/- u/s 80IB of the I.T. Act. The AO, completed the assessment u/s 143(3), assuming the income at the figure of Rs. 13,04,78,815/- after denying the claim of deduction u/s 80IB. The disallowance was made on the ground that, the Appellant had violated the said provision by building a certain number of flats exceeding the built-up area of 1500 sqft. Even though the Assessee had statedly claimed deduction u/s 80IB only in respect of the flats below the benchmarked size of 1500 sq.ft; the AO denied the claim u/s 80IB in its entirely. The AO, in doing so, did not also accede to the appellant's plea that, the issue....

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....t is only with reference to the flats which is more than the prescribed area that the assessee will lose the benefit of deduction. The Tribunal in its decision had followed the ruling of the Special Bench of the Tribunal in the case of Brahma Associates V JCIT (313 ITR (AT) 268 (Pune) (SB). Several other decisions of various benchers of the Tribunal were filed in the paper book taking similar view. In view of the aforesaid decision of the Hon'ble High Court of Karnataka we are not making any reference to those decisions. In view of the aforesaid decision of the Hon'ble Karnataka High Court, we are of the view that there is no merit in the appeals of the revenue and the same are dismissed." 7. In background of the judicial p....