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March 2023

Provisions of section 115JC are applicable to projects approved before the introduction of the section 115JC.

By Jagdish Punjabi, Chartered Accountant
Devendra Jain, Advocate
Reading Time 3 mins
59 DCIT vs. Vikram Developers and Promoters TS-21-ITAT-2023(PUN) ITA No. 608/Pune/2020 A.Y.: 2014-15 Date of Order: 10th, January, 2023 Provisions of section 115JC are applicable to projects approved before the introduction of the section 115JC. FACTS
The assessee, a non-corporate entity, filed its return of income wherein it claimed deduction under section 80IB(10). In the return of income filed, the assessee did not give effect to the provisions of section 115JC. In the course of assessment proceedings, the AO held that the provisions of section 115JC which have been introduced w.e.f. 1st April, 2013 are applicable to the case of the assessee and accordingly the assessee is liable to pay taxes under 115JC for the year under consideration. Accordingly, the AO worked out the Adjusted Total Income and taxed it in accordance with the provisions of section 115JC of the Act. Aggrieved, the assessee preferred an appeal to CIT(A) and contended that the Pune Bench of the Tribunal has in the assessee’s own case, for the assessment year 2013-14, decided the issue in favour of the assessee. The CIT(A), relying on the said order of the Tribunal, decided the issue in favor of the assessee. Aggrieved, the revenue preferred an appeal to the Tribunal. HELD
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