criteria laid down by the
Municipal Corporation, the permissible Common Open Plot ( "COP" for
short) for the residential project is minimum
further states that the assessee's share in open space
in common area out of 40,700 Sq.Mtrs is undivided. This is factually ... stated that the open space is common undivided area. This is
factually not correct. It is submitted that over the open space
January, 2005
for transferring complete rights in respect of common areas, open spaces,
terraces and common facilities, so also for conferring absolute and
marketable right ... common areas in relation
to each flat does not extend by any stretch of imagination to surrounding
open space from the Plot
made with plots planning and common approach roads
etc. Accordingly it was done so.
Thereafter, only few plots were sold. As no significant sale ... land. It is very common and a
known fact that in the open market the price of a plot is higher
comparing to the price
other words, the net plotted area remained 21827.13 sq.mtr
and the balance was left for open space, roads, common
amenities, etc. For computation
laws and rules regarding FAR and parking as
well as open areas, external development and internal development.
(v) Under Rule 4 of Rules ... residential colony of
plots, the land reserved for roads, open spaces, schools/public and
community buildings and other common use area cannot be less than
Petitions involve common points
of law, though the orders are passed separately in each case. Hence, we propose
to pass a common order. The facts ... purchased residential plot
No.11, near Veterinary Hospital, Phillaur 400 sq.yds. at the Old Police Academy,
Phillaur in an open auction held
project having residential units with permissible commercial
user, then it is not open to the income-tax authorities to
contend that the expression 'housing ... projects constructed during the specified period,
on a specified size of the plot with residential units of the
specified size, it cannot be inferred that
development of land into plots and for planning
management, supervision and execution of the same including sale of
plots/shops/constructed houses ... Club House, Gymnasium,
Swimming Pool, Tennis Courts and other common facilities and the plot
holders were also given exclusive rights individually and/or collectively
argument of the Ld. Counsel is that the as the
plot is common, hence, the assessee has shown the buildings
appearing in the first plant ... project is partly completed. In our
opinion, as the plot of land is common for both the phases,
hence, as per their regulations the Municipal