In The Matter Of Cit v. Brahma Associates Reported In 333 Itr 289 , We

ASN IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL LODG. NO.1663 OF 2012 The Commissioner of Income Tax-II...Appellant.v.M/s. Tapadiya Bhosale Associates...Respondent. Mr.Vimal Gupta,Sr. Advocate i/by Ms. Padma Divakar for the Appellant.None for the Respondent CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 29TH JANUARY, 2013 PC: In this appeal by the revenue for assessment year 2003-04 the following questions of law have been raised. a)Whether the Tribunal was justified in holding that the deduction under Section 80IB(10) as applicable prior to 1/4/2005 is admissible in the case of a Housing Project comprising residential housing units and commercial establishments? b)Whether the Tribunal was justified in deciding the appeal without applying the provisions of Section 80IB(10) as was applicable to the relevant A.T. And by reading into the section qualifications (such as profits from the residential segment being amenable to computation on stand alone basis which did not exist in the section at all? c)Whether the Tribunal was justified in introducing new conditions pertaining to commercial construction in residential project even though a plain reading of section 80IB(10) which contains the conditions for deduction thereunder does not leave any scope for such interpretation? d)Whether the Tribunal was justified in holding that the limit on commercial use of built up area as prescribed by clause (d) of sub section 10 of section 80IB was to be applied prospectively and that it had no retrospective effect? 3) Since the Tribunal has followed the decision of this Court in the matter of CIT v. Brahma Associates reported in 333 ITR 289 , we see no reason to entertain the aforesaid questions of law. 4)The appeal is accordingly dismissed with no order as to costs. (M.S.SANKLECHA, J.) (J.P. DEVADHAR, J.)