2025 (2) TMI 1813

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....t of the identical orders of Learned Commissioner of Income Tax (Appeals)-6, Chennai [hereinafter "CIT(A)"] dated 19.03.2020 and the rectification orders of Ld. CIT(A), NFAC, dated 18.03.2024. 2. There is a delay of 1428 days in filing the two appeals by the assesses in respect of Ld CIT(A) orders dated 19.03.2020 passed u/s 250 of I.T Act, arising from the assessment orders u/s 143(3) dated 30.03.2015. The assessees have filed condonation petition stating the reasons that the order of Ld. CIT(A) was passed on 19.03.2020, which was a Covid period and they have filed rectification petition against the order of Ld. CIT(A) as there were many apparent mistakes. The Ld. CIT(A) has rectified all the mistakes, but has not rectified the disallow....

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....nying the deduction claimed under section 80IA(10) in entirety of the whole project and not providing pro rata deductions. 5. The Learned CIT(A) failed to give proper opportunity given before passing of the Impugned order. 6. The learned CIT (A) erred in not following the order passed in Assessment Year 2013-14 7. The appellant seeks leave to raise additional/alternate grounds if any at the time of hearing." 5. The brief facts of the case are that the assessee company along with the other group company M/s. Ganapati Garments Ltd. has promoted a housing project in the outskirts of Chennai under the name Vandalur Park and has claimed deduction u/s. 80IB(10) of the Act for the year is Rs. 5,31,25,988/-. The projec....

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....assessee has submitted that the residential project was completed within the prescribed time line and independently met the requirements of Section 80IB(10) of the Act and therefore, relying on the various case laws including the case of Hon'ble Madras High Court in the case of CIT v. Arun Excello Foundation (P.) Ltd. [2013] 29 Taxman 149 (Mad.) claimed that the assessee is eligible for deduction u/s. 80IB of the Act. The Ld. AR has further submitted that the A.O has disallowed the claim of deduction u/s 80IB(10) in A.Y 2013-14, and Ld CIT(A) has allowed the claim and therefore disallowance in A.Y 2012-13 is inconsistent and unjustified. 7. The Ld. Departmental Representative (DR), on the other hand, supported the findings of Ld. CIT(A) ....

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....cent of the profits derived in the previous year relevant to any assessment year from such housing project if,- 80IB(10) (a)(iii): in a case where a housing project has been or is approved by the local authority on or after the 1st Day of April 2005, within five years from the end of financial year in which the housing project is approved by the local authority . ... 80IB(10)(d): The build up area of the shop and other commercial establishments included in the housing project does not exceed three percent of the aggregate built up area of the housing project or five thousand square feet whichever is higher." 9. The Ld CIT(A) has held that assessee is not eligible for deduction u/s 80IB(10) of the Act as there w....