Bombay High Court Allows Deduction On Issuance Of Completion Certificate
2 years ago

Bombay High Court Allows Deduction On Issuance Of Completion Certificate

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The Bombay High Court has allowed the income tax deduction under Section 80-IB on the grounds that a completion certificate was issued by the competent authority.The division bench of Justice Dhiraj Singh Thakur and Justice Valmiki S.A. Menezes, while upholding the order of the Income Tax Appellate Tribunal, observed that there was no allegation by the survey team during the earlier. The Bombay High Court has allowed the income tax deduction under Section 80-IB on the grounds that a completion certificate was issued by the competent authority. The division bench of Justice Dhiraj Singh Thakur and Justice Valmiki S.A. Menezes, while upholding the order of the Income Tax Appellate Tribunal, observed that there was no allegation by the survey team during the earlier survey conducted in the year 2006 that the assessee was not raising the construction as per the approved plan. It was also held that if there was any modification to a completed residential unit for which a completion certificate had been issued by the competent authority, the assessee could not be held responsible.

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