CIT v. CHD Developers Ltd.

DCIT Cen Cir 1, Thane vs. Puranik Buildes P.Ltd, Thane

Bench: S/Sh.Rajendra & C.N. Prasadआयकर अपील अपील संसंसंसं./Ita.S./385-386/Mum/2015, आयकर आयकर आयकर अपील अपील िनधा"रण वष" वष" /Assessment Year: 2007-08,2008-09 िनधा"रण िनधा"रण िनधा"रण वष" वष" Dcit-Circle-2 M/S. Puranik Builders Pvt. Ltd. Room No.13, A-Wing, 6Th Floor, Ashar It Puranik-One, Kanchan Pushpa, Opp. Suraj Park,Wagle Indl Estate, Water Park, Next To Coral Square Vs. Thane-(W)-400 064 Building, Kavesar,Gb Road, Thane(W)-400615. Pan:Aabcp 0109 R Revenue By:Shri N. Sathya Moorthy -Dr Assessee By: None सुनवाई क" तारीख / Date Of Hearing: 21.07.2016 घोषणा क" तारीख / Date Of Pronouncement: 03.08.2016 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) "" केकेकेके अनुसार अनुसार अनुसार Per Rajendra, Am- अनुसार राजे"" "" "" लेखा सद"य सद"य राजे लेखा लेखा लेखा सद"य सद"य राजे राजे Challenging The Orders,Dated 25/06/2014,Of The Cit(A)-I,Thane The Assessing Officers(Ao.S)Have Filed The Appeals For The Above-Mentioned Ay.S.Assessee- Company Is A Builder & Developer. The Details Of The Dates Of Filing Of Returns Of Income, Returned Incomes & Assessed Incomes,Etc. Can Be Summarised As Under: A.Y. Roi Filed On Returned Assessment Dt. Assessed Dt. Of Orders Income(Rs.) Income(Rs.) Of Cit(A) 2007-08 30.10.2007 57,95,050/- 28.03.2013 2,15,82,568/- 25.06.2014 2008-09 24.09.2008 15,69,349/- 28.03.2013 1,50,63,043/- 25.06.2014

…nce or withdrawal of the benefit claimed by him on that count.” While deciding the case,the Hon’ble Court dissented from the judgments of Hon’ble Gujarat and Delhi High Court delivered in the cases of Tarnetar Corporation (362 ITR 174) and CHD Developers Ltd.(362 ITR 177) and has specifically held that amended provisions were applicable to the projects that were approved before 1.4.2005.Following the above mentioned latest judgment on the issue,we hold that assessee was not entitled to claim deduction u/s. 80IB in respect of building A-1, A-2, C-3, C-4,Club-house of KP.As far as building No.B-1,B-2,B-3,B-4,C-1,C-…

DCIT 3, Thane vs. Puranik Builders P.Ltd, Mumbai

Bench: S/Shjoginder Singh & Rajendraआयकर आयकर अपील अपील संसंसंसं./I.T.A./4612/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit, Range-3, Room No.2, B-Wing, M/S. Puranik Builders Pvt. Ltd. 6Th Floor Ashar It Park, Road No.16Z, M/S. Vmd & Co. Avms Premises, 4Th Floor, Shree Niwas House Wagle Estate,Thane. Vs. H.S. Marg,Mumbai-400 001. Pan:Aabcp 0109 R (अपीलाथ" /Appellant) (""यथ" / Respondent) ""या"ेप ""या"ेप ""या"ेप/C.O/.No.205/M/2014,Ay.2009-10, ""या"ेप M/S. Puranik Builders Pvt. Ltd. Vs. Dcit, Range-3 Thane. Mumbai-400 001. (Cross Objector) (""यथ" / Respondent) Revenue By: Shri Love Kumar-Dr Assessee By: Ms. Uma Mahadeokar सुनवाई क" तारीख / Date Of Hearing: 09.05.2016 घोषणा क" तारीख / Date Of Pronouncement: 29.06.2016 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार Per Rajendra, Am- अनुसार Challenging The Order Dt.13.02.2013 Of Cit(A)-I,Mumbai, The Assessing Officer(A.O.)And The Assessee Have Filed The Present Appeal/Cross Objection (C.O.).During The Course Of Hearing Before Us, The Ar Of The Assessee Stated That Assessee Was Not Interested In Pressing The Grounds Raised In The Co,Considering The Smallness Of Tax Effect.Therefore,C.O. Filed By The Assessee,Stands Dismissed As Not Pressed.

…nce or withdrawal of the benefit claimed by him on that count.” While deciding the case,the Hon’ble Court dissented from the judgments of Hon’ble Gujarat and Delhi High Court delivered in the cases of Tarnetar Corporation (362 ITR 174) and CHD Developers Ltd.(362 ITR 177) and has specifically held that amended provisions were applicable to the projects that were approved before 1.4.2005.Following the above mentioned latest judgment on the issue,we hold that assessee was not entitled to claim deduction u/s. 80IB in respect of building A-1, A-2, C-3, C-4,Club-house of KP.As far as building No.B- 1,B-2,B-3,B-4,C-1,C…

Ramprasd Agarwal, Thane vs. ITO WD 2(2), Thane

In the result, both the appeals filed by the assessee are allowed and both the cross appeals filed by the revenue are dismissed

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2008-2009

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2008-2009 Shri. Ramprasad Agarwal, The CIT(Appeals)-I, Gr. Flr., Vrindavan, Vardaan, 9th Floor, MIDC, Salasar Brijbhoomi, Wagle Industrial Estate, Temba Hospital Road, Vs. Thane. Bhayander(W), Thane- 401101. PAN: AAOPA2405P (Appellant) (Respondent) ITA No 1108 & 1773/MUM/2013 Assessment Year: 2008-2009 & 2009-10 The ITO Wd. 2(2), Shri. Ramprasad Agarwal, Room No. 26/B, Ashar IT Park, Gr. Flr., Vrindavan, Road No. 16Z, Wagle Estate, Salasar Brijbhoomi, Thane- 400604. Vs. Tem…

Ramprasad Agarwal, Mumbai vs. ITO Cen Thane, Thane

In the result, both the appeals filed by the assessee are allowed and both the cross appeals filed by the revenue are dismissed

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2008-2009

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2008-2009 Shri. Ramprasad Agarwal, The CIT(Appeals)-I, Gr. Flr., Vrindavan, Vardaan, 9th Floor, MIDC, Salasar Brijbhoomi, Wagle Industrial Estate, Temba Hospital Road, Vs. Thane. Bhayander(W), Thane- 401101. PAN: AAOPA2405P (Appellant) (Respondent) ITA No 1108 & 1773/MUM/2013 Assessment Year: 2008-2009 & 2009-10 The ITO Wd. 2(2), Shri. Ramprasad Agarwal, Room No. 26/B, Ashar IT Park, Gr. Flr., Vrindavan, Road No. 16Z, Wagle Estate, Salasar Brijbhoomi, Thane- 400604. Vs. Tem…

ITO WD 2(2), Thane vs. Ramprasad Agarwal, Thane

In the result, both the appeals filed by the assessee are allowed and both the cross appeals filed by the revenue are dismissed

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2008-2009

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2008-2009 Shri. Ramprasad Agarwal, The CIT(Appeals)-I, Gr. Flr., Vrindavan, Vardaan, 9th Floor, MIDC, Salasar Brijbhoomi, Wagle Industrial Estate, Temba Hospital Road, Vs. Thane. Bhayander(W), Thane- 401101. PAN: AAOPA2405P (Appellant) (Respondent) ITA No 1108 & 1773/MUM/2013 Assessment Year: 2008-2009 & 2009-10 The ITO Wd. 2(2), Shri. Ramprasad Agarwal, Room No. 26/B, Ashar IT Park, Gr. Flr., Vrindavan, Road No. 16Z, Wagle Estate, Salasar Brijbhoomi, Thane- 400604. Vs. Tem…

ITO Cen ( Thane), Thane vs. Ramprasad Agarwal, Mumbai

In the result, both the appeals filed by the assessee are allowed and both the cross appeals filed by the revenue are dismissed

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2008-2009

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “D”, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2008-2009 Shri. Ramprasad Agarwal, The CIT(Appeals)-I, Gr. Flr., Vrindavan, Vardaan, 9th Floor, MIDC, Salasar Brijbhoomi, Wagle Industrial Estate, Temba Hospital Road, Vs. Thane. Bhayander(W), Thane- 401101. PAN: AAOPA2405P (Appellant) (Respondent) ITA No 1108 & 1773/MUM/2013 Assessment Year: 2008-2009 & 2009-10 The ITO Wd. 2(2), Shri. Ramprasad Agarwal, Room No. 26/B, Ashar IT Park, Gr. Flr., Vrindavan, Road No. 16Z, Wagle Estate, Salasar Brijbhoomi, Thane- 400604. Vs. Tem…

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

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

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

…obtaining completion certificate was inserted by the Finance (No.2) Act, 2004 w.e.f. 1.4.2005 and the same shall not have retrospective application as held in the following cases:- (a) CIT Vs. Sarkar Builders (375 ITR 392)(SC) (b) CIT Vs. CHD Developers Ltd (362 ITR 177)(Delhi) (c) CIT Vs. Jain Housing & Construction Ltd (256 CTR 408)(Mad) Accordingly he submitted that the non-production of completion certificate will not disentitle the assessee from claiming deduction u/s 80IB(10), since the approval was granted to it prior to the introduction of explanation. 6. Having heard rival submissions, we are of the vi…

DCIT (OSD-II) C RG 7, Mumbai vs. Skyline Residencyh P. Ltd, Mumbai

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

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

…able at the time of approval can only be applied and accordingly the law as amended w.e.f. 01.04.2005 cannot be applied in present case. Reliance for the said proposition is placed on the judgment of Delhi High Court in case of Chd Developers Ltd. reported in 362 ITR 177. 7. Further, observations with regard to Building No. 3 cannot be made applicable in this year i.e. AY 2007-2008 as during this year deduction have been claimed with respect to profits arising from sale of flats in Building No. 1 and 2. 11. The AR of the assessee further placed reliance on the judgment of Mumbai Tribunal in case of DCIT vs. Arcad…

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

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

…able at the time of approval can only be applied and accordingly the law as amended w.e.f. 01.04.2005 cannot be applied in present case. Reliance for the said proposition is placed on the judgment of Delhi High Court in case of Chd Developers Ltd. reported in 362 ITR 177. 7. Further, observations with regard to Building No. 3 cannot be made applicable in this year i.e. AY 2007-2008 as during this year deduction have been claimed with respect to profits arising from sale of flats in Building No. 1 and 2. 11. The AR of the assessee further placed reliance on the judgment of Mumbai Tribunal in case of DCIT vs. Arcad…

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

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

…able at the time of approval can only be applied and accordingly the law as amended w.e.f. 01.04.2005 cannot be applied in present case. Reliance for the said proposition is placed on the judgment of Delhi High Court in case of Chd Developers Ltd. reported in 362 ITR 177. 7. Further, observations with regard to Building No. 3 cannot be made applicable in this year i.e. AY 2007-2008 as during this year deduction have been claimed with respect to profits arising from sale of flats in Building No. 1 and 2. 11. The AR of the assessee further placed reliance on the judgment of Mumbai Tribunal in case of DCIT vs. Arcad…

ITO 21(1)(2), Mumbai vs. Gunshi Karsan Dedhia, Mumbai

In the result, Revenue’s appeal stands dismissed

Bench: Shri Saktijit Dey & Shri Ashwani Taneja

…IB(10), requiring furnishing of completion certificate was introduced from 1st April 2005, there is no need to furnish completion certificate.. In this context, he relied upon the decision of the Hon'ble Delhi High Court in CIT v/s CHD Developers Ltd., [2014] 362 ITR 177 (Del.) and the decision of the Hon'ble Jurisdictional High Court in CIT v/s Sai Krupa Developers, ITA no.1540/2012. Thus, it was submitted by the learned Counsel assessee even on merits also, assessee is eligible to avail deduction under section 80IB(10) notwithstanding the fact that it opted for not contesting the disallowance under section 80IB…

ITO 24(3)(2), Mumbai vs. Neeta Enterprises, Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Sanjay Aroraassessment Year: 2009-10 Ito-24 (3)(2), M/S Neeta Enterprises, Ro. No.704, C-11, 7Th Floor, 141, Gundecha House, बनाम/ B.K.C. Bandra(East), Jawahar Nagar, Vs. Mumbai-400051 Goregaon (W), Mumbai-400062 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aacgn4947M

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, बी, मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी संजय अरोड़ा, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Sanjay Arora, Accountant Member Assessment Year: 2009-10 ITO-24 (3)(2), M/s Neeta Enterprises, Ro. No.704, C-11, 7th Floor, 141, Gundecha House, बनाम/ B.K.C. Bandra(East), Jawahar Nagar, Vs. Mumbai-400051 Goregaon (W), Mumbai-400062 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.AACGN4947M राज"व क" ओर से / Revenue by Shri A. Ramchandran-DR "नधा"रती क" ओर से / Assessee by Shri Vimal Puna…