2016 (10) TMI 1072 - HC - Income Tax

Deduction under section 80IB(9) - eligible undertaking - Held that - In this group of appeals, the Supreme Court, while entertaining all the special leave petitions of the department, has desired that these appeals shall not be finalized by the High Court till the matter before the Supreme Court is disposed of. We are informed that so far, such issue is still pending before the Supreme Court. This group of tax appeals is therefore adjourned sinedie. However, it would be the duty of both sides to bring to our notice any development in the pending issue before the Supreme Court in this regard as soon as such development takes place.

Summary

The Gujarat High Court in 2016 (10) TMI 1072 stated that the Supreme Court has directed that the appeals should not be finalized until the matter is resolved in the Supreme Court. The tax appeals are adjourned sine die pending the Supreme Court's decision, with both sides required to inform the High Court of any developments in the pending issue.