TaxTMI 
TaxTMI 
2025 (6) TMI 1399
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....), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 18-03-2024 in the matter of an assessment framed by Ld. AO u/s 143(3) r.w.s.144 of the Act on 18-03-2015. The assessee is aggrieved by denial of deduction u/s 80- IB(10). 2. The Ld. AR advanced arguments in support of impugned claim whereas Ld. Sr. DR has supported the orders of lower authorities. Having heard rival submissions and upon perusal of case records, the appeal is disposed-off as under. The assessee being resident partnership firm is stated to be engaged in construction of residential flats. Proceedings before lower authorities 3.1 The assessment has been framed on best judgment basis since the assessee failed to make any effective representation therein. The asse....
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....led by the assessee. Accordingly, the deduction was denied against which the assessee is in further appeal before us. Our findings and Adjudication 4. From the facts, it emerges that the project under consideration was approved by local authority on 24-05-2006 and the assessee was required to complete the construction within 5 years from the end of the financial year in which the project was approved by the local authority. Accordingly, the construction was to be completed by 31-03-2012. The Ld. AR has stated that this being the 6th year of claiming this deduction, the same would be allowable to the assessee. However, the assessee has not claimed this deduction in AYs 2007-08 to 2009-10 since there was no profit in these years. The return....
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....defined under the Karnataka Municipal Corporations Act, 1976 ('KMC Act' for short). However, Sri. Sanmati has relied upon section 310 of the KMC Act to contend that completion certificate referred to in second Explanation to clause (3) of sub-section (10) of section 80IB is same as found in section 310 of KMC Act. However, we are not inclined to accept said contention for reasons more than one. 5. A Certificate is issued in terms of Schedule-VIII of Building Bye-laws certifying that the erection/re erection/material alteration of buildings, which is subject matter of the plan sanction has been supervised by such registered architect/engineer/supervisor and has been completed in accordance with the plan sanctioned. Person issuing s....
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....rtificate is to be issued under bye-law No. 5.6 by the Commissioner after certificate issued by the registered architect, engineer or supervisor, as the case may be. Thus, completion certificate which is referred to in Section 310 of KMC Act is completion certificate which is required to be issued by Architect, engineer or supervisor, as the case may be, factum of completion of building or project to the Commissioner. It is only after such completion certificate being furnished and inspection conducted by the Commissioner, occupancy certificate would be issued by Commissioner of BBMP. Hence, contention of Revenue that completion certificate is required to be issued by local Authority as prescribed under Second Explanation to sub-clause (3) ....
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....ssee. As such, we are not inclined to accept contention raised by Revenue. There being no substantial questions of law involved in this appeal for being formulated, adjudicated and answered admitting the appeal does not arise. We have also noticed that under similar circumstances, Co-ordinate Bench in ITA Nos.478/2015 and 641/2015 disposed of on 29-2-2016 had noticed in said cases that no certificate of completion had been issued and as such, it was held that neither under the Local Authorities Act nor under KMC Act there being any provision for issuance of completion certificate, revenue ought not to have insisted for production of such certificate for getting benefit under 80-IB (10) of IT Act. Hence, by reiterating the conclusion arrived....