VINOD KUMAR MISRA,J. - (1.) Heard Sri Manu Ghildyal, learned counsel for the revenue and Sri Swapnil Kumar assisted by Ms. Tripti Gupta for the assessee respondent. These are three connected appeals preferred by the Commissioner of Income Tax, Ghaziabad against the common order dated 30th October 2009 passed by the Income Tax Appellate Tribunal, New Delhi.
(2.) The moot question of law arising in this appeal is:- "Whether on the facts and circumstances of the case, the ITAT was legally correct in allowing deduction (s) under Section 80 I A (5) and 80 I B (10) of the Income Tax Act , 1961 when it was clearly established that the constructions of the projects started before 1.10.1998."
(3.) The respondent assessee is a company engaged in building and construction activities. It undertook construction of two major complexes namely M/S Shipra Rivera and M/S Shipra Sun City at Indirapuram. Each of the above complexes were sub-divided into small projects. The Shipra Rivera complex was divided into the following six projects:- 1) Bhagirathi Project; 2) Alaknanda Project; 3) Brahmaputra Project; 4) Caveri Project; 5) Amravati Project; and 6) Damodar Project. Similarly, Shipra Sun City Complex was also sub-divided into five projects namely:- 1) Nilgiri Project; 2) Shivalik Project; 3) Sadpura Project; 4) Kanchenjunga Project; and 5) Aravali Project. ;