DCIT CIRCLE-5, PUNE, PMT BUILDING vs. SHAH BAFNA ASSOCIATES, PUNE

ITA 1410/PUN/2025Status: DisposedITAT Pune15 June 2026AY 2015-168 pages
AI SummaryDismissed

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing deduction under Section 80-IB(10) and deleting the addition for deemed rent. The assessee, a builder, claimed deduction for a housing project, which the AO disallowed citing violations of time limits and allotment rules.

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, following its own previous decisions in the assessee's own case for earlier assessment years. The Tribunal found no change in facts and circumstances and no adverse material presented by the Revenue.

What were the issues?

Eligibility for deduction under Section 80-IB(10) for a housing project and taxability of deemed rent on unsold flats.

Which sections of the Income-tax Act were involved?

Section 80-IB(10),Section 23

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI R. K. PANDA & SHRI VINAY BHAMORE

For Appellant: Shri H. G. Sharma
For Respondent: Shri Amit Bobde, Shri H. G. Sharma
Hearing: 17.03.2026Pronounced: 15.06.2026

PER VINAY BHAMORE, JM: This appeal filed by the Revenue is directed against the order dated 20.03.2025 passed by Ld. CIT(A)/NFAC for the assessment year 2015-16. 2. The Revenue has raised the following grounds of appeal :- “1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in holding that the assessee was eligible for deduction of Rs. 3,00,37,213/- u/s 80-1B(10) of the Income Tax Act, 1961 on pro-rata basis in respect of the housing project "Costa Blanca, Baner, Pune" instead of confirming the disallowance?

2

2.

On facts and in the circumstances of the case, the Ld. CIT(A) erred in holding that the assessee has sold two different flats

The order continues below.

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