Tribunal held that\u00a0 information in subsequent year that the assessee has not completed the project with in prescribed period constitute information hence reassessment notice is held to be valid .\u00a0 At the issue of notice the assessing Officer need not conclusively prove income chargeable to tax\u00a0\u00a0 escaped assessment at\u00a0 stage of\u00a0 notice.\u00a0 Reassessment\u00a0 notice is held to be valid\u00a0 . Tribunal also held that\u00a0 ,if\u00a0\u00a0 flat purchaser de facto in exclusive possession of\u00a0 dry Balcony attached with flat, area of dry balcony includible while computing Built-up area of flat . However, if such projection was either in the nature of a service projection to be used for servicing the building or carrying out repairs of the building, or a common area shared with the other residential units, the dry balcony would not be included in the \u201cbuilt-up area\u201d of the flat. Tribunal also held that,\u00a0 building Completion Certificate\u00a0and the Occupation Certificate .not issued by the local authority\u00a0 till date hence the assessee is not entitle to deduction u\/s 80IB (10 of the Act\u00a0 (AY.2011-12 to 2013-14)<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S.147: Reassessment \u2014Housing project \u2013 Information in subsequent year \u2013 Not competition of the project – Assessing Officer need not conclusively prove income chargeable to tax escaped assessment at stage of notice \u2014 Reassessment notice is held to be valid- If flat purchaser de facto in exclusive possession of dry Balcony attached with flat, area of dry balcony includible while computing Built-up area of flat- Building Completion Certificate and the Occupation Certificate .not issued by the local authority \u2013 Not entitle to deduction u\/s 80IB (10 of the Act [ S.80IB(10) ,148 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13091","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3p9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13091"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13091\/revisions"}],"predecessor-version":[{"id":13092,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13091\/revisions\/13092"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}