S. 80IB(10) : Housing projects-Two flats excess of the prescribed limit of 1500 sq.ft.-Pro rata deduction in respect of eligible flats not exceeding prescribed limit is eligible-Interpretation of taxing Statutes-When the language of a statute is unambiguous and admits of only one meaning, no question of construction of a statute then arises. [S. 260A]
The assessee firm engaged in the business of developing residential projects in return. The assessee claimed deduction u/s. 80IB (10) of the Act. The Assessing Officer held that two flats were having an area in excess of the prescribed limit of 1500 sq. ft. hence denied the deduction . On appeal the CIT(A) directed to allow the pro rata deduction in respect of eligible flats not exceeding prescribed limit of a covered area of 1500 sq.ft. On appeal by Revenue the Tribunal affirmed the order of the CIT(A). On appeal to High Court by the Revenue, High Court affirmed the order of the Tribunal. Court relying on Nelson Motis v. UOI AIR 1992 SC 1981 held that it is well settled principle of interpretation of statues that when the language of a statute is unambiguous and admits of only one meaning, no question of construction of a statute then arises. (AY. 2011-12). (ITA No. 82 of 2018 dt.18-7-2022)
PCIT v. Kumar Builders Consortium (Bom.)(HC). www.itatonline.org .
[Coram : Hon’ble Shri Jutice Dhiraj Singh Thakur and Hon’ble Shri Jutice Abhay Ahuja]