Case Law Details
DCIT Vs Shree Venkatesh Associates (ITAT Pune)
The issue of pro-rata deduction u/s. 80IB(10) for eligible units has been considered by the jurisdictional ITAT, Pune in case of Ramsukh Properties (supra) and M/s D.S. Kulkarni Developers Ltd (supra) and IT AT, Nagpur in case of AIR Developers(supra) and allowed such pro-rata deduction. The ITAT, Mumbai in case of Mudhit Madanlal Gupta vs. CIT reported in 9 taxmann.com 235 has held (hat in depend residential unit had to be treated as separate housing projects for the purpose of deduction u/s. 80IB(10) if other conditions are satisfied. Therefore, the row houses in C wing are to be treated as separate residential projects. Respectfully, following the jurisdictional ITAT, Pune in case of Ramsukh Properties (supra) and M/s D.S. Kulkarni Developers Ltd (supra) and ITAT, Murnbai in case of Mudhit Madanlal Gupta (supra) and ITAT, Nagpur in case of AIR Developers(supra) pro-rata deduction u/s. 8018(10) is allowable for eligible units of the appellant.
FULL TEXT OF THE ITAT JUDGEMENT
This appeal is filed by the Revenue against the order dt.03.07.2017 passed by the learned Commissioner of Income Tax (Appeals)-7, Pune for A.Y. 2011-12.
2. The only issue to be decided is as to whether the learned Commissioner of Income Tax (Appeals) is justified in allowing proportionate deduction u/s 80IB(10) of the Act in the facts and circumstances of the case.
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