The Commissioner of Income-tax, Central Circle III, Chennai v. M/s. Rajarathinam Constructions (P) Limited
[Citation -2015-LL-0406-17]
| Citation | 2015-LL-0406-17 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Central Circle III, Chennai |
| Respondent Name | M/s. Rajarathinam Constructions (P) Limited |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 06/04/2015 |
| Assessment Year | 2006-07 |
| Judgment | View Judgment |
| Keyword Tags | proportionate deduction |
| Bot Summary: | Respondent in the above T.C(A)s APPEALs under Section 260-A of the Income Tax Act against the order dated 07.07.2014 made in I.T.A.Nos. 1062 to 1064/Mds/2013 on the file of the Income Tax Appellate Tribunal, 'A' Bench for the assessment years 2006-07 to 2008-09. For Appellant : Mr.M.Swaminathan Standing Counsel for Income Tax 2 COMMON JUDGMENT The above Tax Case are filed by the Revenue as against the order of the Income Tax Appellate Tribunal raising the following substantial question of law: Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was correct in allowing proportionate deduction under Section 80IB(10) ignoring the fact that the commercial area in the project exceeded the stautory limit as specified under Section 80IB(10) 2. The assessment in the above cases relate to the assessment years 2006-07 to 2008-09. The issue involved in the above Tax Case that whether the assessee is entitled for deduction under Section 80IB(10) of the Income Tax Act has already been decided by this Court in T.C.(A)Nos. 471 of 2010 dated 02.11.2012 reported in 2013 29 taxmann.com 19(Madras) in favour of the assessee and against the Revenue holding that the assessee is entitled to the claim of deduction but to the extent of each of the blocks satisfying the conditions under Section 80-IB(10) on a proportionate basis. Following the above-said decision of this Court, the above Tax Case are dismissed and the order of the Tribunal stands confirmed. |