M/S. PADMAVATI DEVELOPERS,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1 (1), PUNE

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ITA 645/PUN/2019Status: DisposedITAT Pune13 May 2022AY 2010-116 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, confirming that the assessee was entitled to proportionate deduction under Section 80IB(10) for the Sector 7 project, as the facts were similar to previous years.

What were the facts?

The assessee claimed deduction under Section 80IB(10) for its housing projects. The Assessing Officer disallowed the deduction, but the CIT(A) allowed it on a proportionate basis, following a previous Tribunal order.

What were the issues?

Whether the assessee is eligible for deduction under Section 80IB(10) on a proportionate basis for a housing project, and whether different sectors of a project are to be treated as separate entities for this purpose.

Which sections of the Income-tax Act were involved?

Section 80IB(10),Section 133A

AI-generated summary — verify with the full judgment below

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

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Krishna Gujarathi
For Respondent: Shri Sardar Singh Meena and Suhas Dabade

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 12-05-2022 Sr.PS 2. Draft placed before author 12-05-2022 Sr.PS 3. Draft proposed & placed before the JM second member 4. Draft discussed/approved by Second JM Member. 5. Approved Draft comes to the Sr.PS/PS Sr.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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