ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(4), MUMBAI, MUMBAI vs. COSMOS ENTERPRISES, THANE

ITA 8209/MUM/2025Status: DisposedITAT Mumbai14 August 2026AY 2010-1120 pages
AI SummaryPartly Allowed

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing pro-rata deduction under Section 80IB(10) for a housing project. The assessee claimed deduction for the 'Cosmos Park' project, but the AO denied it due to alleged violations of conditions related to project completion, unit size, and commercial area.

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision to allow pro-rata deduction under Section 80IB(10), finding it in consonance with High Court and Supreme Court judgments. However, it directed the AO to verify project completion based on evidence, not solely on the completion certificate, especially when applied for within the prescribed period.

What were the issues?

Whether the assessee is eligible for pro-rata deduction under Section 80IB(10) when there are alleged violations of its conditions, and whether the AO's denial based solely on the absence of a completion certificate is justified.

Which sections of the Income-tax Act were involved?

Section 80IB(10)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI NARENDER KUMAR CHOUDHRY, JM & SHRI ARUN KHODPIA, AM

For Appellant: Shri V.S. Mahajan (Sr. AR)
Pronounced: 14.08.2026

Per Arun Khodpia, AM: The aforesaid appeals are filed by the Revenue, against the consolidated order of the Commissioner of Income Tax Appeals – 54, Mumbai [in short, “the Ld. CIT(A)”], dated 13.09.2025 for the Assessment Years (AY’s) 2009-10, 2010-11 and 2012-13. Before us, the appeals under consideration are for AYs 2009-10 and 2010-11. 2. The grounds of appeal raised by the Revenue in both the aforesaid appeals are as under:

ITA No. 8208 & 8209/Mum/2025 Cosmos Enterprises “Grounds of ITA No.8208/Mum/20

The order continues below.

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