2024 (12) TMI 762

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.... order passed u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') relating to the assessment year 2018-19. 2. The solitary ground raised by the Revenue is that the ld. CIT(A) erred in deleting the addition of Rs. 2,47,27,471/- made on account of disallowance u/s. 80IB(10) of the Act without discussing the case on merits. 3. The brief facts of the case, the Assessing Officer disallowed deduction claimed u/s. 80IB(10) of the Act of Rs. 2,47,27,471/- with respect to the residential project "Venus Parkland" on the ground of non-completion of the particular project within five years i.e. on 31-03-2012, no BU certificate from AUDA of the 380 units of the project, allotment of more than one unit to one persons and ....

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.... Hon'ble ITAT and the Hon'ble ITAT. Ahmedabad vide order in ITA No. 1558/Ahd/2019 dated 17.09.2021, had dismissed the appeal of the revenue on this issue and allowed the deduction claimed u/s 80IB of the Act. Thereafter the Department has also filed an appeal before the Hon'ble Jurisdictional High Court of Gujarat on this issue against the order of the Hon'ble ITAT. The Hon'ble Jurisdictional High Court of Gujarat in the appellant's own case on the similar issue vide R/Tax Appeal No. 204 of 2022 dated 04.04.2022, had dismissed the appeal of the Revenue and allowed the deduction claimed u/s 80IB of the Act of the Act. iv) In view of its submission and judicial pronouncement, the appellant has requested to del....

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....pellant. Thus the grounds of appeal are allowed. 6.4 Further, it is observed that the Hon'ble Jurisdictional High Court of Gujarat in the appellant's own case ld. Principal Commissioner of Income-tax (Central) vs. Venus Infrastructure and Developers (P) Ltd on the simillar issue vide R/Tax Appeal No. 204 of 2022 reported in [2023] 152 taxmann.com 45 (Gujarat) dated 04.04.2022, had dismissed the appeal of the Revenue by holding that the appellant is eligible for claiming deduction u/s.80IB. The head note of the decision of the Hon'ble High Court is as under- "Section 80-IB of the Income-tax Act, 1961 - Deductions Profit and gains from industrial undertakings other than infrastructure development undertakings (Ho....

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....missioner (Appeals) allowed claim of assessee on ground that delay was caused due to dispute of jurisdiction between AMC and AUDA over issuance of BU permission and after resolution of same AMC issued permission before due date of 31-3-2012 Tribunal upheld order of Commissioner (Appeals) High Court by impugned order held that no error was committed by Tribunal in affirming order passed by Commissioner (Appeals) Whether SLP filed against impugned order of High Court was to be dismissed. Held, yes [Para 13] [In favour of assessee)" 6.6 Considering the above, respectfully following the judgement of the jurisdictional High Court & the Hon'ble Apex Court in appellant's own case for A.Y.2012-13 on the similar issues and also in v....