6. ITO v. Paras Builders

69 SOT 82Income Tax Appellate Tribunal#21256 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2018 to 2024.

Sections most often in play

Section 143(3)Section 68 Section 80ID

Issues it is cited on

section 80ib(10)section 80ib section 80i section 80 company section 143(3)nfac

Judgments citing 6. ITO v. Paras Builders

DCIT 13(3)(2), Mumbai vs. Riva Resorts Private Limited, Mumbai

In the result appeal of the Revenue is dismissed

ITA 1343/MUM/2024[2016-17]Status: DisposedITAT Mumbai27 Sept 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Girish Agrawalassessment Year: 2016-17 Deputy Commissioner Of Income Tax Riva Resorts Pvt. Ltd., – 13(3)(2), A 306, Radhakrishna Vs. Mumbai Apartments, Dahisar S.O., Mumbai – 400068 (Pan : Aadcr2341B) (Appellant) (Respondent) Present For: Assessee : Ms. Gunjan Kakkad & Mr. Fenil Bhat, A.Rs

For Appellant: Ms. Gunjan Kakkad and Mr. Fenil Bhat, A.RsFor Respondent: Smt. Mahita Nair, Sr. DR

Section 143(3)Section 68Section 801DSection 80I

…2016-17 disallowed. Relevant legal precedents were cited to support this argument, including i) Biswas Promotors Pvt. Ltd. u/s ACIT, [2013] 214 taxman 524; ii) CIT v/s Arun Exelo Foundation Put. Ltd., [2013] 212 taxman 342 (Mad.); iii) ITO v/s Paras Builders, 69 SOT 82. Additionally, reference was made to their jurisdictional Hon'ble Jurisdictional High Court in CIT v/s Bramha Associates, 333 ITR 289, where proportionate deduction was allowed even when certain conditions for claiming deduction under section 801B(10) of the Act were not fully met." 8.8 We have given thoughtful considerations to the peculiar facts…

Takshashila Realties Private Limited (Earstwhile Youngstar Infracon Pvt. Ltd.), Ahmedabad vs. The Asstt. Commissioner of Income Tax, Circle-4(1)(2) Now Circle 4(1)(1), Ahmedabad

In the result the appeal filed by the assessee in ITA No

ITA 601/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad29 May 2024AY 2010-11

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

Section 115JSection 143(3)Section 148Section 80Section 80I

…be disallowed for entire housing project and, assessee was entitled to deduction proportionately in respect of flats which fulfilled all conditions of section 80-1B(10) - Held, yes [Para 8] [In favour of assessee]" 6. ITO v. Paras Builders 58 taxmann.com 286/69 SOT 82 (Pune - Trib.) "Section 80-IB of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial undertakings other than infrastructure development undertakings (Housing project) - Assessment year 2007-08 - Assessee, engaged in business of construction, constructed a housing project against which it claimed deduction under section 80-1B(1…

DCIT, Circle 4(1)(1), Ahmedabad vs. Takshashila Realities Pvt. Ltd. (Erstwhile Youngstar Infracon Private Limited), Ahmedabad

In the result the appeal filed by the assessee in ITA No

ITA 597/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad29 May 2024AY 2010-11

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

Section 115JSection 143(3)Section 148Section 80Section 80I

Om Sawmi Smaran Developers P. Ltd, Mumbai vs. ITO 8(2)(4), Mumbai

In the result, assessee’s appeal is partly allowed

ITA 6355/MUM/2014[2011-12]Status: DisposedITAT Mumbai31 Jan 2018AY 2011-12

Bench: Shri Saktijit Dey & Shri G. Manjunatha

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Rajat Mittal

Section 115JSection 131Section 133(6)Section 80I

…of section 80IB(10) of the Act. In this context, he relied upon the following decisions:– i) Biswas Promotors Pvt. Ltd. v/s ACIT, [2013] 214 taxman 524; ii) CIT v/s Arun Exelo Foundation Pvt. Ltd., [201`3] 212 taxman 342 (Mad.); iii) ITO v/s Paras Builders, 69 SOT 82; 7. Learned Departmental Representative relied upon the observations of the Assessing Officer and the learned Commissioner (Appeals). 8. We have heard rival contentions and perused the material available on record. As could be seen from the facts available on record, the assessee has developed a housing project under the slum rehabilitation schem…