2022 (5) TMI 626

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.... Rs. 62,35,490/- made on account of disallowance of deduction claimed u/s. 80-IB(10) of the Act, which is patently illegal and may please be deleted. 2] The Ld. CIT(A) as well as Ld. AO have erred in holding that the conditions prescribed for claiming the deduction u/s. 80-IB(10) of the Act are not fulfilled and therefore the deduction claimed is not admissible. 2.1] The Ld. CIT(A) has erred in holding that the land area of the housing project was less than 1 Acre and while doing so he has erred in not considering the sanctioned plan of Gram Panchayat as well as 7/12 extracts which clearly state the land area to be exceeding 1 Acre. 2.2] The Ld. CIT(A) has failed to appreciate that Town Planning Authority in its c....

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....eveloped, was less than 1 acre placing reliance on the report submitted by the Government Registered Valuer and the permission given by Gram Panchayat. 4. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A), who vide impugned order, while concurring with the assessee that the Gram Panchayat was also a competent authority for sanction of plan, had disallowed the claim of the assessee on the ground that the area of land in which the project was developed, is less than 1 acre and also taking into consideration the fact that subsequently the appellant had purchased land in existing area makes no difference as at the time of permission was sought from the Gram Panchayat being the competent authority for sanct....