TaxTMI 
TaxTMI 
2011 (11) TMI 893
X X X X Extracts X X X X
X X X X Extracts X X X X
....f the Tribunal dated 6.12.2010, in the case of assessee itself (ITA No. 243/Ind/2010) for assessment year 2006-07. This factual matrix was not controverted by the Revenue. 3. We have considered the rival submissions and perused the material available on file. In view of the above, we are reproducing hereunder the relevant portion of the order dated 6.12.2010 (supra):- "This is an appeal filed by the assessee against the order of CIT (A) dated 11.1.2010 for the assessment year 2006-07 in the matter of order passed u/s 143(3) of the Income-tax Act, 1961. 2. Various grounds have been taken but the crux of the assessee revolves around decline of claim of deduction u/s 80-IB in respect of its project D.K. Honey Homes. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... was transferred to Municipal Corporation Kolhar. As per ld. Authorized Representative whatever assessee can do for getting the certificate is to inform the competent authorities regarding completion of its project and merely because this certificate was not issued immediately by the Local Authorities over which the assessee was not having any control, the same cannot be made the basis for denial of claim u/s 80IB. As per ld. Authorized Representative, intention behind any deduction u/s 80IB is to promote investment in a particular sector, which is less profitable and the assessee has already done whatever it can do. However, it has no control over the local authorities for getting certificates issued. During the course of hearing, he was p....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... assessee's claim is regarding completion of the project, which has not been fulfilled. He, accordingly, justified the order of the ld. CIT (A) for confirming the disallowance of claim of deduction u/s 80- IB. 7. We have considered the rival contentions, carefully gone through the orders of the authorities below and relevant material placed on record towards which our attention was invited during the course of hearing by the ld. Authorized Representative and the ld. Senior D.R. Provisions of Section 80IB allows claim for deduction in respect of housing project, which has been approved prior to 1.4.2004 and also completed before 31.3.2008. During the course of assessment with regard to assessee's claim of deduction u/s 80IB in respe....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... completion of project is given by the assessee to the Local Authority, it is the duty of the Local Authority to verify physically the Projects stated to be completed from its own parameters. This process may take time and, therefore, the date of issue of letter is not so crucial to determine the assessee's eligibility for claim of deduction as per Explanation (ii) of Section 80IB(10)(a) of the Income-tax Act, 1961. What is crucial is date mentioned in the letter so issued certifying completion of the Project. Thus, the date of issue of letter is not important, but the date mentioned in the letter certifying completion of project is important. We, therefore, do not find any merit in the observation of the lower authorities to the effect tha....