disallowed the assessee's claim of
deduction u/s 80IB(9) of the Act of Rs.698,07,58,520/-, discussed this issue ... provided different
methodologies to compute deduction u/s.10AA and u/s.80IB(9) of the Act,
the assessee was required to adopt different parameters
correct in holding that
the assessee is eligible for deduction u/s. 80IB(10)
despite the fact that project was not completed by
the stipulated ... basis of advances/sale
proceeds received. The assessee claimed deduction u/s.
80IB(10) of the Income
made by the A.O. on account
of disallowance claimed u/s 80IB (10) of income Tax Act. 1961.
4. On the fact ... Revenue's appeal for AY 2008-09 dismissed.
26. The next common ground of appeal relates to deduction u/s.
80IB(10) ; whereby
Assessing Officer denied
the assessee's claim of deduction u/s 80IB of the Income Tax Act, 1961
amounting ... which the A.O. denied the assessee's claim
of deduction u/s 80IB on the ground of the last year that the assessee
deduction u/s 80HHC
5. That the Ld. CIT(A) has erred in law & facts in allowing/the deduction u/s
80IB amounting ... from industrial undertaking and eligible for exemption u/s 10B and deduction u/s
80IB .
(ii)That the Id. CIT(A) has erred
spaces -
Rs.1,56,35,782/-.
(b) Denial of deduction u/s 80IB(10) - Rs.2,12,84,740/-.
4. Ld. CIT(A) partly allowed ... erred
in upholding the disallowance of deduction u/s 80IB(10) by the Assessing Officer vide
order dated 27th December, 2006 passed u/s
response to
notice u/s 148 of the Act. Accordingly re-assessment u/s 143(3) r.w.s.
147 of the Act was finalized ... ground is as to whether assessee is eligible for deduction u/s
80IB for interest on margin money on fixed deposit is
squarely covered
approved as
residential cum commercial by local authority, rebate
u/s.80IB (10) is available which is the case of appellant, I
find that ... Builder s (AYs:04-05,05-06,07-08,08-09)
approval was granted prior to 1.10.1998 and therefore,
benefit of s.80IB(1) cannot
letter, the
issue regarding claim of the assessee for deduction u/s. 80IB of IT Act for
Rs. 6,14,61,531/- was enquired ... s case and
relying upon the replies filed by the assessee, it is clear that
the assessee is not eligible for deduction u/s 80IB
s Bhumiraj Construction
u/s 80IB(10) of the Act has to be allowed in full. On the other
hand, the ld. DR, defended ... s Bhumiraj Construction
are that the claimed relief u/s 80IB(10) of the Act and the
assessment was made by the ld. Assessing Officer
