Commissioner Of Income Tax, Gandhinagar v. Vraj Corporation

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL No. 291 of 2018 In TAX APPEAL No. 358 of 2018 =============================================================COMMISSIONER OF INCOME TAX, GANDHINAGARVersusVRAJ CORPORATION ============================================================= Appearance :Mr MANISH R BHATT, Sr Advocate with Mrs MAUNA M BHATT, Advocate for the PETITIONER============================================================= CORAM:HONOURABLE Mr. JUSTICE AKIL KURESHIandHONOURABLE Mr. JUSTICE B.N. KARIA9[th] April 2018 andHONOURABLE Mr. JUSTICE B.N. KARIA9[th] April 2018 ORAL ORDER(PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal, Ahmedabad Bench, raising the following question for our consideration :- “Whether on facts and circumstances, the Appellate Tribunal is justified in deleting disallowance made under Section 80IB [10] of Rs. 5,03,11,524/= and also directing to allow deduction under Section 80IB [10] on disallowance out of vehicle and telephone expenses of Rs. 1,06,625/= ?” The issue pertains to deduction under Section 80IB [10] of the Income-tax Act, 1961. The assessee claimed such deduction in relation to the income arising out of development of a housing project. The main objection of the Assessing Officer was that the assessee was not the owner of the land which it claimed to have developed. CIT [A] and the Tribunal, however, examined the material on record and came to the conclusion that the land was in fact transferred to the assessee-firm. No question of law arises. Tax Appeal is dismissed. Prakash [Akil Kureshi, J.][B.N Karia, J.]