2025 (12) TMI 626

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....e assessment for the assessment year 2005-2006 under Section 143(3) of the Act disallowed the deduction under Section 80IB on the ground that the assessee is not the owner of the land and he had not invested any money for the development of the land as per Section 80IB(10) but had merely executed a works contract. Aggrieved by the said order of the Assessing Officer, the Assessee preferred an appeal before the Commissioner of Income Tax appeals and the Authority held that the ownership of land is not a criteria for claiming the deduction under Section 80IB and the Assessee is entitled for deduction since the Assessee had developed the land. Therefore, the Assessee is entitled for deduction under Section 80IB. Aggrieved by the said order, th....

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.... as it would not necessarily decide the nature of transaction. Therefore, the Tribunal has passed a reasoned order and the appeal is liable to be dismissed. 4. This Court heard both sides and perused all the materials available on record. 5. At the time of admitting the appeal, this Court formulated the following substantial question of law: "Whether on the facts and circumstances of the case, the Tribunal was right in holding that the assessee is entitled for deduction under Section 80IB?" 6. In this case, this appeal is relating to the assessment year 2005-2006. The assessee has claimed deduction under Section 80-IB(10) to the tune of Rs.13,32,29,388/-. Thereafter, scrutiny assessment was passed on 16.11.2007 by disallow....