TaxTMI 
TaxTMI 
2016 (10) TMI 1346
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.... for assessment year 2007-08 as the lead case in order to appreciate the controversy. This appeal is directed against an order passed by CIT(A)-34, Mumbai dated 21/05/2014, which in turn arises out of an order passed by the Assessing Officer under section 143(3) r.w.s. 263 of the Income Tax Act, 1961 (in short 'the Act') dated 22/03/2013. The Grounds of appeal raised by the Revenue in this appeal read as under:- "1) Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in allowing deduction under section 80IB(10) of the I.T. Act ignoring the fact that the approval of the local authority was obtained on 28/11/1992, i.e. much before 01.10.1998, the date on or after which the project approved were eligibl....
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.... Ground of appeal No.1 is concerned, the dispute relates to the date 'commencement' of the housing project for the purposes of the claim of deduction under section 80IB(10) of the Act. This aspect of the controversy stands covered by the decision of the Tribunal dated 04/06/2014 vide ITA No.2898/Mum/2010( for assessment year 2006-07) & others dated 04/06/2014. The conclusion of the Tribunal in this regard is as under:- " 18. In the present case also no expenditure, whatsoever, has been shown to be incurred on the housing project for which approval was obtained by the assessee after entering into Development Agreement, i.e. on 10th July, 2003. The expenditure incurred by M/s. Gas Property Developers were not on the housing project approved....
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....ecided the issue in favour of the assessee. 8. In this context, it is noticed that the objection of the Assessing Officer was that since the project was not completed before 31/03/2008, the deduction under section 80IB(10) of the Act could not be allowed. As per the CIT(A)'s decision in para 3.3, it is seen that according to her, the condition regarding completion of the housing project before 31/3/2008 was not applicable in this case, as the project was approved prior to the amendment made in the statute relating to the due date of completion. Further, the CIT(A) records a finding in paras 3.4.4 and 3.4.5, that in any case; assessee has completed the construction work in all respects before 31/8/2008 and obtained the occupancy certificate....