Pushkar Construction Co., Ahmedabad V. The Income tax Officer,Ward-9(1), Ahmedabad

ITA 2697/AHD/2011

• Counselvise Citation: 269720514 RSA 2011
• Duration Of Justice: 3 year(s) 11 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 09-09-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 02-11-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P M MEHTA
• Section: 143(3); 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER PUSHKAR CONSTRUCTION CO. AMBICA NIWAS, NEAR UMA SOCIETY, PALDI AHMEDABAD PAN: AAIFP1527B (APPELLANT) VS ITO, WARD - 9(1), AHMEDABAD (RESPONDENT) REVENUE BY : S H RI DILEEP KU MAR , SR. D . R. ASSE SSEE BY: S H RI P.M. MEHTA , A.R. DATE OF HEARING : 09 - 09 - 2 015 DATE OF PRONOUNCEMENT : 21 - 10 - 2 015 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS ASSESSEE S APPEAL F OR A.Y. 200 8 - 09 , AR ISES FROM ORDER OF THE CIT(A) - XV, AHMEDABAD DATED 25 - 08 - 2011 IN APPEAL NO. CIT(A) - XV/9(1)/214/ 10 - 11 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2697 / A HD/20 11 A SS ESSMENT YEAR 2 0 08 - 09 I.T.A NO . 2697 /AHD/20 11 A.Y. 2008 - 09 PAGE NO PUSHKAR CONSTRUCTION CO. VS. ITO 2 2 . THE ASSESSEE HAS RAISED SEVEN GROUNDS IN THE IN STANT APPEAL. IT PRESSES FOR ONLY ONE OF THEM CHALLENGING DISALLOWANCE OF SECTION 80IB(10) DEDUCTION AMOUNTING TO RS. 86,20,238/ - . THE ASSESSEE - FIRM CONSTRUCTS HOUSING PROJECTS. IT HAD SHOWN A NET PROFIT OF RS. 63,54,101/ - AS DERIVED FROM A RESIDENTIAL PROJECT DEVELOPED . THE ASSESSING OFFICER DISALLOWED THE SAME IN A REGULAR ASSESSMENT FRAMED ON 02 - 11 - 2010 INTER ALIA HOLDING T HAT THE ASSESSEE DID NOT OWN LAND IN QUESTION , THE SAME WAS NOT OF MORE THAN ONE ACRE, IT IS A MERE BUILDER AND NOT DEVELOPER AND IT HAD EXECUTED THE SALE DEED S AS A SELLER IN THE CAPACITY OF CONTRACTOR/AGENT OF LAND OWNER. THE ASSESSING OFFICER FURTHER RELIED UPON HIS SIMILAR DISALLOWANCE MADE IN ASSESSMENT YEAR 2006 - 07 RELATING TO THE VERY PROJECT AS UPHELD BY THE CIT(A) IN ORDER DATED 24 - 02 - 2010 AND 11 - 1 0 - 2010 . THIS RESULTED IN THE IMPUGNED DISALLOWANCE OF SECTION 80IB(10) DEDUCTION BEING MADE IN THE ASSESSEE S HANDS. THE CIT(A) CONFIRMS THE ASSESSING OFFICE R S ACTION BY QUOTING HIS FINDINGS IN ASSESSMENT Y EAR 2006 - 07 . 3. W E HAVE HEARD BOTH THE PARTIES AND PERUSED THE CASE FILE. RELEVANT FACTS OF THE CASE STAND NARRATED IN THE PRECEDING PARAGRAPH. THE SAME ARE NOT REPEATED FOR THE SAKE OF BREVITY. THE A SSESSEE CLAIMED ITS SECTION 80IB (10) DEDUCTION QUA ITS RESIDENTIAL PROJ ECT PUSHKAR RESIDENCY . BOTH T HE LOWER AUTHORITIES QUOTE THEIR FINDINGS INVOKING THE VERY DISALLOWANCE IN EARLIER ASSES SMENT YEARS PERTAINING THE VERY PROJECT. THE ASSESSE E PRODUCES BEFORE US A COPY OF THE TRIBUNAL S ORDER IN ITA 1544/AHD/2010 IN ITS OW N CASE FOR ASSESSMENT I.T.A NO . 2697 /AHD/20 11 A.Y. 2008 - 09 PAGE NO PUSHKAR CONSTRUCTION CO. VS. ITO 3 YEAR 2006 - 07 DECIDED ON 28 - 08 - 2015 ACCEPTING ITS SECTION 80IB DEDUCTION CLAIM OF PUSHKAR RESIDENCY PROJECT . THE REVENUE FAILS TO POINT OUT ANY DISTINCTION ON FACTS OR LAW. WE ACCORDINGLY FOLLOW CO - ORDINATE BENCH S DECISION AND ACCEP T ASSESSEE S ARGUMENTS . IT S SECTION 80IB(10) DEDUCTION CLAIM AMOUNTING TO RS. 86,20,238/ - ACCORDINGLY SUCCEEDS. 4. THIS ASSESSE S APPEAL IS ALLOWED IN ABOVE TERMS. ORDER PR ONOUNCED IN THE OPEN C OURT ON 21 - 10 - 2015 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 21 /10 /2015 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMED ABAD 6. GUARD FILE. BY ORDER/ , / ,