TaxTMI 
TaxTMI 
TaxTMI 
2022 (5) TMI 1177
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....ed basing on the same identical facts. Upon hearing and with the consent of both the parties, we proceed to hear both the appeals together and to pass a consolidated order for the sake of convenience. 3. First, we shall take up appeal in ITA No. 2080/PUN/2017 for A.Y. 2011-12 filed by the Revenue. 4. The only issue is to be decided is as to whether the CIT(A) is justified in holding that the assessee is eligible for claiming proportionate deduction u/s. 80IB(10) of the Income-tax Act, 1961 (hereinafter referred to as "the Act‟) as a whole in the facts and circumstances of the case. 5. The brief facts of the case relating to the issue on hand are that the assessee is a company and engaged in the business of real estate development, ....
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.... the assessee is entitled to get the proportionate deduction on the profits of the eligible units which comply with the provisions of section 80IB(10) of the Act, accordingly, directed the AO to allow deduction u/s. 80IB(10) of the Act on eligible units vide para 6.15 of impugned order. Having considering the facts and circumstances of the case and decisions of this Tribunal in respect of allowing proportionate deduction u/s 80IB(10) of the Act which was not disputed by the ld. DR, in our opinion, the CIT(A) rightly allowed deduction for eligible units by placing reliance on the decisions of Hon‟ble High Court which were followed by the Tribunals. Thus, we find no infirmity in the order of CIT(A) in holding the assessee is entitled to....
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....ntrol Rules for PMC. The ld. AR vehemently argued that all the 10 flats are in compliance with the provisions of section 80IB(10) of the Act and the assessee is entitled to claim deduction u/s. 80IB(10) of the Act. 9. The ld. DR submits that the built up area is defined in clause (a) of sub-section (14) of section 80IB and the inner measurements of the residential unit at the floor level, including the projections and balconies, as increased by the thickness of the walls but does not include the common areas. In the present case, the projection with cavity wall is a clear case of projection and has to be considered in the built up area. The contention of assessee is that the projections and balconies are one and the same is not acceptable.....
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....s contended that the assessee erected an additional wall and a box like window instead of a regular window shed which was separated from the internal wall of the said residential unit with 6" cavity is not usable. In order to verify the same, the AO sought report from the DVO, who clearly stated the said 10 flats exceeding the prescribed built up area of 1500 sft. and particularly held that the said window is includable in the built up area. Therefore, it is clear the additional wall and box like window is to be included in the built up area which is above the prescribed built up area as required for claiming deduction u/s 80IB(10) of the Act. There is no dispute with regard to this position by the ld. AR. Therefore, we find no infirmity in....
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....era Developments Pvt. Ltd. as relied on by the ld. AR. Therefore, in view of the same, we find no infirmity in the order of CIT(A) and it is justified. Thus, ground No.2 raised by the assessee is dismissed. 13. Ground No.3 raised by the assessee challenging the action of CIT(A) in confirming the disallowance made by the AO on account of hawala bills. 14. We note that admittedly no details were submitted before the lower authorities below as it is evidenced from the impugned order at para 8.3 at page No.42. Now, before us, the ld. AR drew our attention to the pages 43 to 71 of paper book and submits that the assessee is ready to produce all the details concerning the relevant issue. There is no dispute the said bills from page No.43 to 71 ....