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1 - 6 of 6 (0.18 seconds)Section 80 in The Finance Act, 2018 [Entire Act]
Section 143 in The Finance Act, 2018 [Entire Act]
The Commissioner Of Income Tax-Ii vs M/S. Brahma Associates on 22 February, 2011
The issue raised here is covered by the
decision of Special Bench of the Tribunal in the case
of Brahma Associates and others (supra) which has
been confirmed by Hon'ble Bombay High Court.
Furthermore the introduction of definition of built up
area in section 80-IB (14) was w.e.f. 1-4-2005 and
not retrospective in nature.
Agarwal Hardware Works (P.) Ltd. vs Commissioner Of Income-Tax on 18 July, 1978
18. After hearing both the parties and perusing the
material on record, we find that the issue raised in
this appeal is covered in favour of the assessee by the
decision of Open Shelters Pvt. Ltd. And D.S. Kulkarni
Developers (supra), wherein it has been held that if
the project is started prior to 1-4-2005 the limit of
2000 sq.ft. or 5% whichever is lower is not applicable
and the deduction is to be allowed to the entire
project. Assessing Officer was not justified to take
date of commencement as 20/04/2005 which was date
of revalidation. So Brahma Aangan project already
commenced on 17/03/2001 i.e. prior to 01/04/2005.
Similarly in respect of Brahma Majestic plan was
sanctioned on 27/06/2003 i.e. much before
01/04/2005. Respectfully following the said decision,
we direct the authorities below to allow deduction u/s
80-IB(10) of the Act on account of both these projects.
In the result, this appeal of the assessee is allowed.
Section 14 in The Finance Act, 2018 [Entire Act]
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