2011 (9) TMI 1234

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....sed by the Revenue in this Appeal. The said questions of law read thus: a) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in allowing the deduction under section 80IB(10) since the assessee company had constructed residential-cum-commercial complex thus violating one of the precondition laid down under section 80IB(10) of the Income Tax Act, 1961? ....

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....ects had purchased a Project known as Oswal Nagari and Asha Nagar from a third party. On the said project which commenced in March, 2001 the assessee claimed deduction under section 80IB(10) of the Income Tax Act, 1961. The Assessing Officer disallowed the claim of the Assessee on the ground that the Project was originally sanctioned by the CIDCO vide order dated 3rd August, 1998. Since one of the....