CIT v. ARUN EXCELLO FOUNDATIONS (P) LTD.

212 Taxmann 342High Court2013#3434 most cited

What is CIT v. ARUN EXCELLO FOUNDATIONS (P) LTD. authority for?

Accounting Standard 7 is not applicable to real estate developers, and therefore, the percentage of completion method cannot be imposed on them. Assessees are justified in following the project completion method as per Accounting Standard 9.

35

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT v Arun Excello Foundations · Section 143(3) · Section 68 · Section 80ID · real estate developers · accounting standard 7 · accounting standard 9 · percentage of completion method · project completion method

Also reported as

29 Taxmann.com 149259 CTR 362

Sections most often in play

Section 143(3)Section 68Section 80ID

Judgments citing CIT v. ARUN EXCELLO FOUNDATIONS (P) LTD.

Deputy Commissioner of Income-Tax, Pune vs. M/S. Trinity Developers, Pune

In the result, appeal of Revenue is dismissed

ITA 174/PUN/2016[2012-13]Status: DisposedITAT Pune23 Mar 2018AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.174/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Dy. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle 3, Pune …. Vs. M/S. Trinity Developers, A-102, Icc Trade Tower, Senapati Bapat Road, …. प्रत्यथी / Respondent Pune – 411016 Pan: Aabat7830R

For Appellant: Shri Rajeev Kumar, CITFor Respondent: Shri Nikhil Pathak
Section 143(3)Section 80I

…आयकर अपीऱीय अधिकरण पुणे न्यायपीठ “ए” पुणे में IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE सुश्री सुषमा चावऱा, न्याययक सदस्य एवं, श्री डी. करुणाकरा राव, ऱेखा सदस्य के समक्ष BEFORE MS. SUSHMA CHOWLA, JM AND SHRI D. KARUNAKARA RAO, AM आयकर अपीऱ सं. / ITA No.174/PUN/2016 यििाारण वषा / Assessment Year : 2012-13 The Dy. Commissioner of Income Tax, अऩीऱाथी/Appellant Circle 3, Pune …. Vs. M/s. Trinity Developers, A-102, ICC Trade Tower, Senapati Bapat Road, …. प्रत्यथी / Respondent Pune – 411016 PAN: AABAT7830R अऩीऱाथी की ओर से / Appellant by : Shri Rajeev Kumar, CIT प्रत्यथी की ओर से / Respondent by : Sh…

Vijay Grihnirman P.Ltd, Mumbai vs. ACIT CC 15 & 16, Mumbai

The appeal of the assessee is partly allowed

ITA 3280/MUM/2016[2011-12]Status: DisposedITAT Mumbai02 Feb 2018AY 2011-12

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2011-12 Vijay Grihanirman P. Ltd. Acit, 205, Marine Chambers, Central Circle-15 & 16, बनाम/ 43, New Marine Line, Mumbai Vs. Churchgate, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacv2806N Shri Rajat Mittal-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri Mani Jain & Shri Prateek Jain

Section 80I

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,सी,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी रिमत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2011-12 Vijay Grihanirman P. Ltd. ACIT, 205, Marine Chambers, Central Circle-15 & 16, बनाम/ 43, New Marine Line, Mumbai Vs. Churchgate, Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAACV2806N Shri Rajat Mittal-DR राज"व क" ओर से / Revenue by "नधा"रती क" ओर से / Assessee by Shri Mani Jain & Shri Prateek Jain सुनवाई क" तार"ख /…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ITA no.6355/Mum./2014 (Assessment Year : 2011–12) Om Swami Smaran Developers Pvt. Ltd. B/11, Uma Smruti, 7th Carter Road ……………. Appellant Borivali (East), Mumbai 400 066 PAN – AAACO8124A v/s Income Tax Officer ……………. Respondent Ward–8(2)(4), Mumbai Assessee by : Shri Madhur Agarwal Revenue by : Shri Rajat Mittal Date of Hearing – 19.01.2018 Date of Order – 31.01.2018 O R D E R PER SAKTIJIT DEY, J.M. Aforesaid appeal by the assessee is against the order dated 19th June…

S.B. Enterprises, Thane vs. ITO WD 3(3), Thane

ITA 6749/MUM/2014[2010-11]Status: DisposedITAT Mumbai22 Nov 2017AY 2010-11

Bench: Sh. R. C. Sharma, Am & Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 6749/Mum/2014 (निर्धारणवर्ा / Assessment Year: 2010-11)

For Appellant: Shri Subodh RatnaFor Respondent: Shri V. Justin
Section 143(3)Section 801BSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SH. R. C. SHARMA, AM & SH. SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 6749/Mum/2014 (निर्धारणवर्ा / Assessment Year: 2010-11) M/s S. B. Enterprises ITO WD 3(3) 103, Marotroji Bhavna, Dr. R. No. 8, B Wing, 6th बिधम/ Moose Rd, Talopali, floor, Ashar IT Park R. Vs. Thane(W)-400602 DNo. 16Z Wable Indl Estate, Thane(W)- 400604 स्थायीलेखासं./जीआइआरसं./PAN/GIR No. ABJFS9590F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri Subodh Ratna Parkhi प्रत्यथीकीओरसे/Respondentby : Shri V. Justin सुनवाईकीतारीख/ : 04/09/2017 Date of Hear…

Shri Ramsingh Kumar, Chennai vs. DCIT, Chennai

In the result, this ground of the assessee is partly allowed for statistical purpose

ITA 2196/CHNY/2016[2012-13]Status: DisposedITAT Chennai06 Jan 2017AY 2012-13

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner Of No.7, 1St Floor, V. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. Pan : Afdpr4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Addl. Cit सुनवाई क" तार"ख/Date Of Hearing : 19.10.2016 घोषणा क" तार"ख/Date Of Pronouncement : 06.01.2017

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri Clement Ramesh Kumar, Addl. CIT
Section 143(3)Section 148Section 80I

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी चं" पूजारी, लेखा सद"य एवं "ी जी. पवन कुमार, "याियक सद"य के सम" BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner of No.7, 1st Floor, v. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. PAN : AFDPR4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर…

Shri Ramsingh Kumar, Chennai vs. DCIT, Chennai

In the result, this ground of the assessee is partly allowed for statistical purpose

ITA 2195/CHNY/2016[2011-12]Status: DisposedITAT Chennai06 Jan 2017AY 2011-12

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner Of No.7, 1St Floor, V. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. Pan : Afdpr4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Addl. Cit सुनवाई क" तार"ख/Date Of Hearing : 19.10.2016 घोषणा क" तार"ख/Date Of Pronouncement : 06.01.2017

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri Clement Ramesh Kumar, Addl. CIT
Section 143(3)Section 148Section 80I

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी चं" पूजारी, लेखा सद"य एवं "ी जी. पवन कुमार, "याियक सद"य के सम" BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner of No.7, 1st Floor, v. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. PAN : AFDPR4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर…

Shri Ramsingh Kumar, Chennai vs. DCIT, Chennai

In the result, this ground of the assessee is partly allowed for statistical purpose

ITA 2194/CHNY/2016[2010-11]Status: DisposedITAT Chennai06 Jan 2017AY 2010-11

Bench: Shri Chandra Poojari & Shri G. Pavan Kumarआयकर अपील सं./Ita Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner Of No.7, 1St Floor, V. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. Pan : Afdpr4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Addl. Cit सुनवाई क" तार"ख/Date Of Hearing : 19.10.2016 घोषणा क" तार"ख/Date Of Pronouncement : 06.01.2017

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri Clement Ramesh Kumar, Addl. CIT
Section 143(3)Section 148Section 80I

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी चं" पूजारी, लेखा सद"य एवं "ी जी. पवन कुमार, "याियक सद"य के सम" BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.: 2194, 2195 & 2196/Mds/2016 िनधा"रण वष" / Assessment Years : 2010-11, 2011-12 & 2012-13 Shri Ramsingh Kumar, The Deputy Commissioner of No.7, 1st Floor, v. Income Tax, Papanasam Sivan Salai, Non-Corporate Circle – 2, Santhome, Mylapore, Chennai – 600 034. Chennai – 600 004. PAN : AFDPR4037A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर…

Maitri Associates, Mumbai vs. DCIT Cen Cir 1, Mumbai

In the result, both the appeals filed by the assessee are treated as allowed

ITA 162/MUM/2010[2007-08]Status: DisposedITAT Mumbai02 Sept 2016AY 2007-08

Bench: Shri Mahavir Singh (Jm) & Shri B.R. Baskaran (Am)

Section 2Section 260ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” Bench, Mumbai Before Shri Mahavir Singh (JM) & Shri B.R. Baskaran (AM) I.T.A. No. 161/Mum/2010 (Assessment Year 2006-07) I.T.A. No. 162/Mum/2010 (Assessment Year 2007-08) M/s. Maitri Associates DCIT CC-1 M/s. Natvarlal Vepari & Co. Vs. 9TH Floor Oricon House, 4th Floor CGO Annexe Bldg 12, K. Debash Marg M.K. Road Mumbai-400 023. Mumbai-400 020. (Appellant) (Respondent) PAN No.AAGFM6578D Assessee by Shri Farrokh Irani Department by Shri S. Ravichandran Date of Hearing 31.8.2016 Date of Pronouncement 2.9.2016 O R D E R Per B.R. Baskaran (AM) :- Both the appeals file…

Maitri Associates, Mumbai vs. DCIT Cen Cir 1, Mumbai

In the result, both the appeals filed by the assessee are treated as allowed

ITA 161/MUM/2010[2006-07]Status: DisposedITAT Mumbai02 Sept 2016AY 2006-07

Bench: Shri Mahavir Singh (Jm) & Shri B.R. Baskaran (Am)

Section 2Section 260ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” Bench, Mumbai Before Shri Mahavir Singh (JM) & Shri B.R. Baskaran (AM) I.T.A. No. 161/Mum/2010 (Assessment Year 2006-07) I.T.A. No. 162/Mum/2010 (Assessment Year 2007-08) M/s. Maitri Associates DCIT CC-1 M/s. Natvarlal Vepari & Co. Vs. 9TH Floor Oricon House, 4th Floor CGO Annexe Bldg 12, K. Debash Marg M.K. Road Mumbai-400 023. Mumbai-400 020. (Appellant) (Respondent) PAN No.AAGFM6578D Assessee by Shri Farrokh Irani Department by Shri S. Ravichandran Date of Hearing 31.8.2016 Date of Pronouncement 2.9.2016 O R D E R Per B.R. Baskaran (AM) :- Both the appeals file…

Rupvakula Properites P. Ltd, Mumbai vs. ITO 10(2)(3), Mumbai

In the result, assessee’s appeal is allowed for statistical purpose

ITA 7520/MUM/2013[2006-07]Status: DisposedITAT Mumbai30 Jun 2016AY 2006-07

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Shri Dharan GandhiFor Respondent: Shri B.S. Bist
Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.7520/Mum./2013 (Assessment Year : 2006–07) Rupvakula Properties Pvt. Ltd. Kailash Plaza, Vallabh Baug Lane ……………. Appellant Ghatkopar (E), Mumbai 400 053 PAN – AABCR7425A v/s Income Tax Officer Ward–10(2)(3), Aayakar Bhawan ……………. Respondent 101, M.K. Road, Mumbai 400 020 Assessee by : Shri Dharan Gandhi Revenue by : Shri B.S. Bist Date of Hearing – 26.04.2016 Date of Order – 30.06.2016 O R D E R PER SAKTIJIT DEY, J.M. Instant appeal of the assessee is directed ag…

ACIT, Chennai vs. Elegant Estates, Chennai

In the result, both the appeals of the Revenue and both the cross-objections of the assessee are dismissed

ITA 225/CHNY/2016[2012-13]Status: DisposedITAT Chennai19 May 2016AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.224 & 225/Mds/2016 & C.O. Nos.51 & 52/Mds/2016 (In I.T.A. Nos.224 & 225/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Assistant Commissioner Of M/S Elegant Estates, No.1B/3, 1St Main Road, Income Tax, V. Non-Corporate Circle – 15, Gandhi Nagar, Adyar, Chennai - 600 034. Chennai - 600 020. Pan : Aacfe 1274 G (Appellant) (Respondent & Cross Objector)

For Appellant: Sh. Pathlavath Peerya, CITFor Respondent: Sh. R. Sivaraman, Advocate
Section 80

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.224 & 225/Mds/2016 & C.O. Nos.51 & 52/Mds/2016 (in I.T.A. Nos.224 & 225/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Assistant Commissioner of M/s Elegant Estates, No.1B/3, 1st Main Road, Income Tax, v. Non-Corporate Circle – 15, Gandhi Nagar, Adyar, Chennai - 600 034. Chennai - 600 020. PAN : AACFE 1274 G (Appel…

ACIT, Chennai vs. Elegant Estates, Chennai

In the result, both the appeals of the Revenue and both the cross-objections of the assessee are dismissed

ITA 224/CHNY/2016[2011-12]Status: DisposedITAT Chennai19 May 2016AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.224 & 225/Mds/2016 & C.O. Nos.51 & 52/Mds/2016 (In I.T.A. Nos.224 & 225/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Assistant Commissioner Of M/S Elegant Estates, No.1B/3, 1St Main Road, Income Tax, V. Non-Corporate Circle – 15, Gandhi Nagar, Adyar, Chennai - 600 034. Chennai - 600 020. Pan : Aacfe 1274 G (Appellant) (Respondent & Cross Objector)

For Appellant: Sh. Pathlavath Peerya, CITFor Respondent: Sh. R. Sivaraman, Advocate
Section 80

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.224 & 225/Mds/2016 & C.O. Nos.51 & 52/Mds/2016 (in I.T.A. Nos.224 & 225/Mds/2016) "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Assistant Commissioner of M/s Elegant Estates, No.1B/3, 1st Main Road, Income Tax, v. Non-Corporate Circle – 15, Gandhi Nagar, Adyar, Chennai - 600 034. Chennai - 600 020. PAN : AACFE 1274 G (Appel…

I.T.O. WD 1(3), Thane vs. Astavinayaka Developers, Thane

In the result, the appeal filed by the revenue is dismissed

ITA 7266/MUM/2011[2007-08]Status: DisposedITAT Mumbai02 Mar 2016AY 2007-08

Bench: Shri B.R. Baskaran (Am) & Shri Amarjit Singh (Jm)

For Appellant: Shri Subodh RatnaparkhiFor Respondent: Shri Somanath S. Ukkali
Section 80I

…Vs. Sheth Developers (P) Ltd (33 SOT 277)(Mum) (d) G.V. Corporation Vs. ITO (38 SOT 174)(Mum) (e) Poddar & Ashish Developers Vs. ITO (152 ITD 117)(Mum) (f) CIT Vs. Sreeevatsa Real Estates P Ltd (222 Taxman 105)(Mad) (g) CIT Vs. Arun Excello Foundations P Ltd (259 CTR 362)(Mad). In view of the above, we do not find any reason to interfere with the order of Ld CIT(A) on this issue also. 8. In the result, the appeal filed by the revenue is dismissed. Order has been pronounced in the Open Court on 02.03.2016. (AMARJIT SINGH) ACCOUNTANT MEMBER Mumbai; Dated : 02/03/2016 Sr. P.S SSL Copy of the Order forwarded to :…

DCIT, New Delhi vs. M/S. Omaxe Buildhome (P) Ltd., New Delhi

ITA 5373/DEL/2013[2007-08]Status: DisposedITAT Delhi12 Nov 2015AY 2007-08

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu Assessment Year : 2008-09 Deputy Cit, Vs. M/S. Omaxe Ltd., Central Circle-4, 7-Lsc, Omaxe House, New Delhi. Kalkaji, New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent) Assessment Year: 2008-09 M/S. Omaxe Ltd., Vs. Deputy Cit, 7-Lsc, Omaxe House, Central Circle-4, Kalkaji, New Delhi. New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent)

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri R.L. Meena, CIT(DR)
Section 10ISection 4Section 80I

…be drawn from section 80HHBA, as both the sections fall in the same chapter and are incentive provisions for development of housing projects. In fact this view has been approved by Hon’ble Madras High Court in case of CIT vs Arun Excello Foundations Pvt Ltd (259 CTR 362) (Madras) in ITA No. 1348 and 1349 of 2007. Relevant extracts are as under: “…………..There is no definition of 'housing project' under Section 80IB(10) of the Act. This, however, does not pose any difficulty. For reading Section 80HHBA and Section 80IA, it is clear that Section 80IB is concerned about housing project namely, construction of any bu…

Elegant Estates, Chennai vs. ITO, Chennai

Appeal is partly allowed

ITA 2902/CHNY/2014[2010-2011]Status: DisposedITAT Chennai27 Feb 2015AY 2010-2011

Bench: Shri A.Mohan Alankamony & Shri S.S. Godara

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. Pramod Nangia, IRS, CIT
Section 143(3)Section 80Section 80I

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “ A ” BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी एस. एस. गोदारा, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER & SHRI S.S. GODARA, JUDICIAL MEMBER आयकर अपील सं./ I.T.A. No.2902/Mds/2014 ("नधा"रण वष" / Assessment Year : 2010-2011) M/s. Elegant Éstates, The Income Tax Officer, No.1B/3, First Main Road, Vs Business Ward –III (3) Gandhi Nagar, Chennai 600 034. Adyar, Chennai 600 020 [PAN: AACFE1274G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant by : Shri. R. Sivaraman, Advocate.…