ACIT v. Sheth Developers Pvt. Ltd.

33 SOT 277Income Tax Appellate Tribunal2009#5508 most cited

What is ACIT v. Sheth Developers Pvt. Ltd. authority for?

An assessee is eligible for proportionate deduction under Section 80IB(10) on a pro-rata basis in respect of residential units fulfilling the prescribed conditions, even if other units do not.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Also referred to as

ACIT v. Sheth Developers Pvt. Ltd. · 33 SOT 277 · Section 80IB(10) · deduction · pro-rata basis · residential units · prescribed conditions · tax benefit

Issues it is cited on

section 80ib(10)section 80ibtax benefitsection 80isection 80section 11prescribedsection 143section 147section 143(1)companytotal income

Judgments citing ACIT v. Sheth Developers Pvt. Ltd.

Skyline Residency P. Ltd, Mumbai vs. ACIT (OSD II) Cen RG -7, Mumbai

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

ITA 6910/MUM/2011[2007-08]Status: DisposedITAT Mumbai16 Dec 2015AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.6910&6912/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) M/S Skyline Residency Pvt. Ltd., Vs. Acit-(Osd)-Ii, Central Range-7, 4Th Floor, Aykar Acme Compound, Premier Road, Ghatkopar (West), Bhavan, Mumbai Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & आमकय अऩीर सं./Ita No.7311&7312/Mum/2011 (नििाारण वषा / Assessment Year :2007-08 & 2008-09) Dcit-(Osd)-Ii, Central Vs. M/S Skyline Residency Pvt. Range-7, 4Th Floor, Aykar Ltd., Acme Compound, Bhavan, Mumbai Premier Road, Ghatkopar (West), Mumbai-400086 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aabcj 2532 L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri Vijay Mehta याजस्व की ओर से /Revenue By : Shri Manjunatha R. Swamy सुनवाई की तायीख / Date Of Hearing : 29/10/2015 घोषणा की तायीख/Date Of Pronouncement 16/12/2015 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Cit(A), Mumbai, For The Assessment Years 2007-08 & 2008-09, In The Matter Of Order Passed U/S.143(3) Of The I.T.Act. 2. Common Grounds Have Been Taken In Both The Years Under Consideration, Therefore, Appeals For Both The Years Were Heard Together

For Appellant: Shri Vijay MehtaFor Respondent: Shri Manjunatha R. Swamy
Section 143(3)Section 80I

…nce of separate 'books of account. Therefore, the ITAT held that the Revenue was not right in treating both the projects as one without the facts warranting for such conclusion. 4.10 The Id.AR's reliance on the case of ACIT VS.Sheth Developers (P) Ltd. (2009) 33 SOT 277 (Mum) at the end of his argument is also very relevant. In this case, the Hon'ble ITAT have referred to Special Bench decision in the case of Brahma Associates vJt. CIT [ITA,No.1417 (PN) of 2006] for allowing pro rata relief even where the appellant had utilized space for commercial purpose upto 10% in an approved housing project. Following the ra…