86 DTR 99 (Mad) and Vishwas Promoters Pvt. Ltd. v. ACIT

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 8, PUNE vs. ASWANI DEVELOPERS, PUNE

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.576/Pun/2020 िनधा"रण वष" / Assessment Year: 2012-13 The Deputy Commissioner Of M/S. Aswani Developers, Income Tax, Circle-8, Pune Vs Second Floor, S.P. Heights, Mumbai-Pune Road, Kasarwadi, Pune 411 034 Pan : Aarfa0761H Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / It(Ss)A Nos.02 & 03/Pun/2021 िनधा"रण वष" / Assessment Years: 2012-13 & 2013-14 The Deputy Commissioner Of M/S. Aswani Developers, Income Tax, Vs Second Floor, S.P. Heights, Central Circle-2(2), Pune Mumbai-Pune Road, Kasarwadi, Pune 411 034 Pan : Aarfa0761H Appellant/ Assessee Respondent /Revenue

…3 had violated the conditions of section 80IB(10)(f) of the Act. He relied on the ratio laid down by the Hon'ble High Court of Madras in CIT Vs. Arun Excello Foundation Pvt. Ltd. reported in 86 DTR 99 (Mad) and Vishwas Promoters Pvt. Ltd. Vs. ACIT reported in 81 DTR 58 (Mad) and was of the view that the assessee was entitled to claim prorata deduction on the profits of balance project excluding two flats which were allotted to spouses of individuals. We are in conformity with the findings of CIT(A), where the violation of clause (f) of section 80IB(10) of the Act has been made by the assessee, then in respect of…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS FLORA CITY,, PUNE

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS FLORA CITY,, PUNE

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS FLORA CITY,, PUNE

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS FLORA CITY,, PUNE

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

M/S. NAMRATA DEVELOPERS FLORA CITY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

M/S. NAMRATA DEVELOPERS FLORA CITY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

M/S. NAMRATA DEVELOPERS FLORA CITY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

M/S. NAMRATA DEVELOPERS FLORA CITY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly uphold the CIT(A) foregoing directions granting proportionate section 80IB(10) deduction to the assessee. Ordered accordingly. These Revenue’s cross appeals in ITA No.1684 to 1687/PUN/2...

Bench: Shri S.S.Godara & Shri Dipak Pandurang Ripoteआयकरअपीलसं. / Ita No’S.1679 To 1682/Pun/2016 िनधा"रण वष" / Assessment Years: 2010-11 To 2013-14 M/S. Namrata Developers Flora The Deputy Commissioner Of City, Vs Income Tax, Central Circle-2(1), 592, Ravivar Peth, Talegaon- Pune. Dabhade, Taluka Maval, Pune – 410 506. Pan: Aaaan 4708 C Appellant/ Assessee Respondent /Revenue

…ich fuifiled ail the conditions prescribed u/s 80IB(10): i) G. V. Corporation v ITO 133 TTJ178 ii) CiT vArun Excelio Foundation Pvt.Ltd. (Madras) 86 DTP 99 iii) Surana Mutha Developers v ITO (ITA NO.360/PN/2013) iv) Vishwas Promoters Pvt.Ltd. v ACIT (Madras) 81 DTR 58 v) CIT v B.M. & Brothers (Guj) 86 CCH194. 16.7 I find merit in the submissions of the appellant. As held by Madras High Court, Kolkata High Court, Gujarat High Court, Bombay High Court and by the jurisdictional ITAT, Pune, the project would be entitled for deduction u/s 80IB(10) on pro-rata basis in respect of residential units which fulfilled all…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS,, PUNE

In the result, all appeals of Revenue and Cross Objections of assessee in assessment year 2011-12 are dismissed and Cross Objections of assessee in assessment years 2012-13 and 2013-14 are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1974 To 1976/Pun/2016 यििाारण वषा / Assessment Years : 2011-12 To 2013-14

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1974 to 1976/PUN/2016 यििाारण वषा / Assessment Years : 2011-12 to 2013-14 The Asst. Commissioner of Income Tax, अऩीऱाथी/Appellant Central Circle 2(1), Pune …. Vs. M/s. Namrata Developers, 592, Ravivar Peth, Talegaon-Dabhade, Taluka Maval, …. प्रत्यथी / Respondent Pune – 410506 PAN: AABFN1735C प्रत्याक्षेप सं./CO Nos.40 to 42/PUN/2018 यििाारण वषा / Asse…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS,, PUNE

In the result, all appeals of Revenue and Cross Objections of assessee in assessment year 2011-12 are dismissed and Cross Objections of assessee in assessment years 2012-13 and 2013-14 are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1974 To 1976/Pun/2016 यििाारण वषा / Assessment Years : 2011-12 To 2013-14

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1974 to 1976/PUN/2016 यििाारण वषा / Assessment Years : 2011-12 to 2013-14 The Asst. Commissioner of Income Tax, अऩीऱाथी/Appellant Central Circle 2(1), Pune …. Vs. M/s. Namrata Developers, 592, Ravivar Peth, Talegaon-Dabhade, Taluka Maval, …. प्रत्यथी / Respondent Pune – 410506 PAN: AABFN1735C प्रत्याक्षेप सं./CO Nos.40 to 42/PUN/2018 यििाारण वषा / Asse…

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. NAMRATA DEVELOPERS,, PUNE

In the result, all appeals of Revenue and Cross Objections of assessee in assessment year 2011-12 are dismissed and Cross Objections of assessee in assessment years 2012-13 and 2013-14 are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1974 To 1976/Pun/2016 यििाारण वषा / Assessment Years : 2011-12 To 2013-14

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “बी” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं श्री अयिऱ चतुवेदी, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपीऱ सं. / ITA Nos.1974 to 1976/PUN/2016 यििाारण वषा / Assessment Years : 2011-12 to 2013-14 The Asst. Commissioner of Income Tax, अऩीऱाथी/Appellant Central Circle 2(1), Pune …. Vs. M/s. Namrata Developers, 592, Ravivar Peth, Talegaon-Dabhade, Taluka Maval, …. प्रत्यथी / Respondent Pune – 410506 PAN: AABFN1735C प्रत्याक्षेप सं./CO Nos.40 to 42/PUN/2018 यििाारण वषा / Asse…