COMMISSIONER OF INCOME TAX Vs. ELEGANT ESTATES

JUDGEMENT

(1.) This Tax Case Appeal has been filed against the order of the Income Tax Appellate Tribunal "A" Bench, Chennai, dated 27.2.2015, in ITA No.2902/Mds/2014.

(2.) The brief facts of the case, necessary for the disposal of the appeal, are as follows:

(3.) The learned counsel appearing on behalf of the appellant had submitted that the order passed by the Income Tax Appellant Tribunal is erroneous in law and contrary to the facts and circumstances of the case. The Tribunal had erred in holding that the assessee would not be entitled for deduction, under Section 80IB(10) of the Act, proportionately, in respect of the two flats, which had been built with an extent of more than 1500 square feet.