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Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI C.N. PRASAD, JM & SHRI MANOJ KUMAR AGGARWAL, AM
"""" / O R D E R Per Manoj Kumar Aggarwal (Accountant Member) 1. The captioned appeal by revenue for Assessment Year [AY] 2007-08 assails the order of the Ld. Commissioner of Income-Tax (Appeals)-26 2 Dharti Enterprises Assessment Year 2007-08 CIT(A)], Mumbai, Appeal No. CIT(A)-26/IT-67/ACIT.15(2)/12-13 dated 21/03/2014. The assessment for impugned AY was framed by Ld. Assistant Commissioner of Income Tax, Circle-15(2), Mumbai [AO] u/s 143(3) read with Section 147 of the Income Tax Act 1961 on 27/02/2013. The sole subject matter of the appeal is assessee’s claim of deduction u/s 80IB(10).
Facts leading to the same are that the assessee being resident firm engaged as builders & developers was granted deduction u/s 80IB(10) by the first appellate authority. Subsequently, the case of the assessee was subjected to reassessment proceedings since it was noted that the assessee failed to obtain occupation certificate [OC] by stipulated date of 31/03/2009 and hence, the assessee was not eligible to claim the same. The assessee contended that the project was completed in all respect by 15/03/2008 and the authorities [Bombay Municipal Corporation] delayed the issue of occupation certificate. However, not convinced, Ld. AO after perusing the statutory provisions denied the deduction to the assessee.
Aggrieved the assessee contested the same with success before Ld. CIT(A) vide impugned order dated 21/03/2014 where the Ld. CIT(A) following the order of its predecessor in assessee’s own case for 2006-07 decided the issue in assessee’s favor. Aggrieved, the revenue is in further appeal before us.
The Ld. Departmental Representative [DR], at the outset, vide letter dated 11/08/2016, pleaded for submissions of additional evidences subsequently received by the revenue in the form of letter dated 15/12/2015