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TAXAP/2321/2009 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 2321 of
2009
=========================================================
COMMISSIONER
OF INCOME TAX-I - Appellant(s)
Versus
SUBHLAXMI
DEVELOPERS - Opponent(s)
=========================================================
Appearance
:
MR
MANISH BHATT, Sr. Advocate,MRS MAUNA M BHATT
for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 22/03/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
1. This
tax appeal is ADMITTED
for considering the following substantial questions of law:
“[A] Whether, on the
facts and in the circumstances of the case, the Tribunal was right in
law in allowing deduction u/s.80IB(10) r.w.s. 80IB(1) to the assessee
when the approval by the local authority as well as completion
certificate was not granted to the assessee but to the landowner and
the rights and the obligations under the said approval were not
transferable, and when the transfer of dwelling units in favour of
the end-users was made by the landowner and not by the assessee?
[B] Whether,
on the facts and in the circumstances of the case, the Tribunal was
right in law in allowing deduction u/s.80IB(10) r.w.s. 80IB(1) to
the assessee on profit derived from sale of unutilized FSI not being
the element of profits derived from the business activity of
development and construction of the housing project relating to the
sale of tenements?”
2. To
be heard with TAX APPEAL NO.546 OF 2008
and connected appeals.
(AKIL
KURESHI,J.)
(S.G.
GOKANI,J.)
Umesh/
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