INCOME TAX OFFICER vs. M/S. SHAH BAFNA ASSOCIATES, PUNE

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ITA 181/PUN/2017Status: DisposedITAT Pune28 June 2019AY 2012-135 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee is entitled to a pro-rata deduction under Section 80IB(10) for the completed flats, following a previous precedent. The Revenue's appeals were dismissed.

What were the facts?

The assessee claimed deduction under Section 80IB(10) for a housing project. The Assessing Officer disallowed the entire deduction as the project was not completed as per the conditions. The CIT(A) allowed a proportionate deduction for the completed portion.

What were the issues?

Whether a pro-rata deduction under Section 80IB(10) is allowable for a partly completed housing project.

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, PUNE BENCH “B”, PUNE

Before: SHRI R.S. SYAL & SHRI VIKAS AWASTHY

For Appellant: Shri Prayag Jha
For Respondent: Shri M.K. Verma

आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार आदेशानुसार

// True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

ITA Nos.181 & 199/PUN/2017 M/s. Shah Bafna Associates

Date 1. Draft dictated on 27-06-2019 Sr.PS 2. Draft placed before author 27-06-2019 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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