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| The Tax Publishers2020 TaxPub(DT) 4024 (Karn-HC) : (2020) 426 ITR 0175 INCOME TAX ACT, 1961
Section 80-IB(10)
Where assessee had furnished the certificate of the registered certified architect, before AO to demonstrate or establish that the project in question had been completed within the period stipulated under section 80-IB(10), in such circumstances denial of deduction claimed under section 80-IB(10) could not be held justified.
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Deduction under section 80-IB(10) - Income from developing and housing project - Completion of project within period stipulated time -
Assessee was carrying on the business of development and construction. It claimed deduction under section 80-IB(10) in respect of residential project. AO disallowed deduction claimed on the ground that the assessee had failed to produce the completion certification. Held: Assessee had furnished the certificate of the registered certified architect, before AO to demonstrate or establish that the project in question had been completed within the period stipulated under section 80-IB(10). Therefore, assessee was entitled to the deduction under section 80-IB(10).
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2008-09
IN THE KARNATAKA HIGH COURT
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